"Thursday's fresh bearish acceleration also completed Failure Swing pattern on daily chart which is seen as strong bearish signal."
— Slobodan Drvenica, Windsor Brokers Ltd (based on FX Street)
Pair's outlook
AUD/USD is driven by strong downside momentum for the second consecutive day, supposedly being under pressure due to weak fundamentals from China. The pair had already dashed through three support levels in the morning session, namely, the 20-day SMA, the weekly S1 and a down-trend in the 0.7427/03 area. Thus, only strong incentive of the pair's bulls may introduce some changes to this plunge. It is expected that the Aussie may still slightly; nevertheless, no surprises should occur in the remaining trading hours, leaving the Antipodean currency below the weekly S1 at 0.7409.
Traders' sentiment
The bullish market sentiment has increased today, as 57% of open positions are long. However, 57% of pending orders are to sell the Aussie.
| Sentiment | Today | Yesterday | 5 days ago | |
| Positions | 14% | 2% | 2% | |
| Orders | -14% | 34% | 34% | |
| Indicator | 1D | 1W | 1MN | |
| MACD (12; 26; 9) | Sell | Sell | Sell | |
| RSI (14) | Neutral | Neutral | Neutral | |
| Stochastic (5; 3; 3) | Sell | Sell | Sell | |
| ADX (14) | Neutral | Neutral | Neutral | |
| CCI (14) | Neutral | Neutral | Neutral | |
| AROON (14) | Buy | Buy | Buy | |
| Alligator (13; 8; 5) | Sell | Sell | Sell | |
| SAR (0.02; 0.2) | Buy | Sell | Buy | |
| Aggregate | → | ↘ | → | |