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"Apparently Europe's been saved. It's a risk rally. Everyone's buying risk after what happened, (and) the comments from Europe. I think this move has caught a lot of people off guard."
- David Bradley, Scotiabank (based on Reuters)
Pair's Outlook
The bullish bias is still holding on AUD/USD as the pair successful breached the 1.0118 (61.80% Fibo) level and at the moment is attempting to test the second resistance at 1.0179 (R1 Weekly). A breakout here would pave the way to the last resistance at 1.0215/20 (100-da SMA; R1 Monthly).
Traders' Sentiment
Disposition of long and short positions on AUD/USD has slightly changed since yesterday as 59% of investors keep long positions while 41% of traders are short on the pair. Presently, the vast majority of market participants (74%) expect the Aussie Dollar to dive further against the US dollar.
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