AUD/USD closes above monthly R1

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Undoubtedly, the upbeat Chinese data has helped the Australian dollar. Investors have been short Aussie and some good Australian data of late has led to a short covering rally."
- Nomura (based on CNBC)


Pair's Outlook

Even though not as confidently as yesterday, but the Aussie keeps on advancing further. However, right now the currency is facing resistance represented by the 100 and 200-day SMAs and might fail to overcome these hurdles, being that, based on the technical indicators on the weekly and monthly time frames, the outlook appears to be strongly bearish.

Traders' Sentiment

SWFX market participants are starting to lose their confidence in the ability of the Australian Dollar to appreciate—the share of long positions plummeted from 70% down to 59% during the last five days. At the same time, the percentage of sell orders placed on AUD/USD added to 66%.
© Dukascopy Bank SA

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
Chcete-li se dozvědět více o platformě Dukascopy Bank CFD / Forex, SWFX a dalších souvisejících obchodních informacích, prosím, zavolejte nám, nebo vám můžeme zavolat my.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.