Note: This section contains information in English only."It's likely the Aussie will remain relatively contained, but susceptible to any pre-election jitters."
– Stephen Innes, OANDA (based on The Business Times)
Pair's Outlook
[ANNOUNCE]The Aussie's bullish trend experienced a small setback on Friday, being that the commodity currency lost ten pips against the American Dollar that day.[/ANNOUNCE] The AUD/USD currency pair appears to be unable to climb over the 0.77 psychological level just yet, thus, a close in the red zone is the most probable outcome today. The weekly pivot point at 0.7652 is the closest level to limit possible losses, even though technical indicators suggest a rally is due; however, even a drop that low could be difficult to achieve due to lack of market movers today. On the other hand, a surge beyond 0.77 would cause the pair to encounter resistance circa 0.7725, also limiting the gains.
Traders' Sentiment
Bears keep gaining numbers, as 67% of traders are now short the Aussie (previously 66%). The share of buy orders slid from 53 to 49%.
Mon, 07 Nov 2016 13:54:08 GMT
Source: Dukascopy Bank SA
– Stephen Innes, OANDA (based on The Business Times)
Pair's Outlook
[ANNOUNCE]The Aussie's bullish trend experienced a small setback on Friday, being that the commodity currency lost ten pips against the American Dollar that day.[/ANNOUNCE] The AUD/USD currency pair appears to be unable to climb over the 0.77 psychological level just yet, thus, a close in the red zone is the most probable outcome today. The weekly pivot point at 0.7652 is the closest level to limit possible losses, even though technical indicators suggest a rally is due; however, even a drop that low could be difficult to achieve due to lack of market movers today. On the other hand, a surge beyond 0.77 would cause the pair to encounter resistance circa 0.7725, also limiting the gains.
Traders' Sentiment
Bears keep gaining numbers, as 67% of traders are now short the Aussie (previously 66%). The share of buy orders slid from 53 to 49%.