AUD/USD stays directionless

Even though most of the technical indicators on all three relevant time-frames are in favour of further Aussie's depreciation, AUD/USD is contained by 0.8845/11 from above and by 0.8700/0.8679 from below and therefore has been staying flat for the past two weeks. Thus, the currency pair may continue to remain largely inactive, but a path of the least resistance is considered to be to the downside.

The number of long positions relative to the number of short ones decreased, but the sentiment in the market towards AUD/USD is nonetheless noticeably bullish—70% of traders believe the Aussie is going to gain value. As for the orders, the percentage of sell ones soared from 30% up to 71%.