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"We have seen some long risk positions built up on the back of expectations central banks in general will do more. There's scope for disappointment on that front although we're more likely to see it in the Aussie and Canadian dollar rather than the euro."
- BNP Paribas (based on CNBC)
Pair's Outlook
The currency pair laid back a bit, approaching the first initial support level at 1.0406 (38.20% Fibo), though bulls try to establish an upward trend. If this is the case, investors might encounter the second and third resistance levels at 1.0581 (R1 Monthly) and 1.0704 (R3 Monthly) as bullish momentum strengthens.
Traders' Sentiment
Allocation of pending long and short positions on AUD/USD suggests that 71% of investors are bearish on the pair while 29% of traders are short on the pair. Presently, however, largest share of the market participants (67%) expect the Aussie Dollar to deteriorate against the US dollar.
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