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"The U.S labor market is flashing a red light, with the prospects of QE3 rising."
- Bank of Tokyo-Mitsubishi UFJ Ltd. (based on Bloomberg)
Pair's Outlook
AUD/USD sustains positive tendency as the pair is approaching 200-day SMA. If eventually a breakout here emerges, bulls are likely to continue advancement and 1.0347 (R1 Weekly) might become an initial resistance level for bullish investors. A breakout here would expose 1.0464 (R1 Monthly) and 1.0574 (23.60% Fibo), respectively.
Traders' Sentiment
The stance on AUD/USD is neutral as equal portion of long and short trades are held by investors (51%/49%). At the same time, the order disposition shows that 62% of investors hold bullish outlook on the Aussie Dollar-US Dollar currency pair.
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