"The RBA is not expected to make any changes to monetary policy. However, if the bank indicates that risks regarding Australia's job and housing markets have receded, the ‘Aussie' could strengthen."
— Josh Jeffery (based on Future Currency Forecast)
Pair's outlook
During the morning session, AUD/USD traded within the bounds of the weekly S1 and S2 at 0.7409 and 0.7368, accordingly. Moreover, it is apparent on the hourly chart that the rate has formed a short-term channel down in force since last week. The pair is trading in an upward correction, facing the 100-hour SMA in near future. Sluggish US fundamentals mid-day strengthened the Aussie, pushing it through the weekly S1. Nevertheless, intraday technicals suggest that the upward momentum should weaken, either leaving the rate slightly above the 0.7409 mark or guiding it back within the 0.7409/0.7368 range.
Traders' sentiment
Traders are bullish in this trading session, as 58% of open positions are long. Furthermore, 59% of set up orders are to buy the Aussie, compared to 43% on Thursday.
| Sentiment | Today | Yesterday | 5 days ago | |
| Positions | 16% | 14% | 2% | |
| Orders | 18% | -14% | 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) | Buy | Neutral | Neutral | |
| AROON (14) | Buy | Buy | Buy | |
| Alligator (13; 8; 5) | Sell | Sell | Sell | |
| SAR (0.02; 0.2) | Sell | Sell | Buy | |
| Aggregate | ↘ | ↘ | → | |