AUD/USD denies bearish bias

Due to a strong positive for the Aussie fundamental impact AUD/USD soared from yesterday's close and is currently testing the supply area created by the August low, weekly PP and the 20-day SMA. If this zone gives in to the buying pressure, then the rally could extend up to the monthly PP and the 55-day SMA at 0.8984/66, even though most of the indicators are currently bearish.

Compared to the yesterday's figure, today there are even more long positions on AUD/USD—their share increased from 71% up to 74%, as traders were encouraged by the recent rally. Meanwhile, the percentage of buy orders is also growing—at the moment 60% of them are to purchase the Australian Dollar.