© Dukascopy Bank SA
- FXCM (based on the Australian)
Pair's Outlook
At the beginning of the week the pair managed to recover some of the previous losses; however, the Aussie failed to break the monthly PP at 0.7970. Since then the pair has slipped towards the major level at 0.78, where AUD/USD seems supported for now. Nonetheless, there is a potential for a further decline, as a distinct majority of the technical indicators continue to point to the south. Thus, a dip below the mentioned supports could mean a sell-off towards 0.77.
Traders' Sentiment
More than 70% of the SWFX market participants believe that the Australian Dollar is going to outperform the U.S. counterpart. And this number could go up, as 56% of orders are placed to purchase the Aussie.
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