© Dukascopy Bank SA
"There are some prospects the Fed will embark on QE3 somewhere in the later part of the year. There will still be interest to buy the Aussie and the kiwi on dips, but they're still a sell on rallies."
- Forecast Pte in Singapore (based on Bloomberg)
Pair's Outlook
AUD dived against the US dollar, piercing the 1.0031 level. Thus, it is expected that, in case bearish momentum intensifies, 0.9931 (S1 ) is going to be the next target. A breakout here would expose the third level at 0.9665 (lower Bollinger band; S3 weekly).
Traders' Sentiment
The gap between long and short positions opened on AUD/USD narrowed compared to the previous report and at the moment 51% of investors hold long positions (60% yesterday). At the same time, 63% of currency traders expect the pair to move south over long run.
© Dukascopy Bank SA