AUD/USD slumps from the weekly R2

The Aussie is finally unable to carry on bullish sentiments further, as the price decreases from the weekly R2 at 1.0548 today. The pair was sharply exceeding the Bollinger band yesterday, but this particular situation is unsustainable, therefore the price has already made a 75 pips drop from the recent peak. The next support is rather far away, as the weekly R1 intersects with the 20-day SMA at 1.0450.

SWFX market data do not indicate any changes in traders' sentiments, as bears remain in the lead and have 73% of opened positions. Waiting orders segment is totally opposite to the spot market, as 71% of orders are waiting to buy the pair and benefit from the Australian Dollar appreciation.