AUD/USD nurses losses

AUD/USD continues to move south, but is about to encounter the demand area at 0.9082/32, which is mainly created by the monthly S2 level. And while this support may prompt a short-squeeze, the currency pair is highly unlikely to change its overall bearish tendency until it reaches the Aug low at 0.8845, as suggested by the daily and monthly indicators.

The Australian Dollar maintains its position as one of the most popular currencies in the SWFX marketplace, on average being acquired in 72% of trades in its crosses. Specifically in the pair with the U.S. Dollar, 69% of positions are to benefit from appreciation of the Aussie.