© Dukascopy Bank SA
"The big theme has been Fed tapering. With that set to continue into 2014, we'll expect the Aussie to come under some further pressure over the next year."
- St. George Bank Ltd. (based on Bloomberg)
Pair's Outlook
After a shallow rally due a test of the August low AUD/USD has once again returned to 0.8845. Here the currency pair should be well-supported. However, we should not rule out a possibility of a dip through this notable level, being that the falling resistance line, initiation of which dates back to the end of October, still remains intact, thereby suggesting that the sell-off is likely to persist.
Traders' Sentiment
Just as last Friday, there are considerably more bullish with respect to AUD/USD market participants than there are bears—the share of the former amounts to 73%. Meanwhile, the gap between the numbers of buy and sell orders is minimal—merely two percentage points in favour of the buy ones.
© Dukascopy Bank SA