AUD/USD recoils from the 100-day SMA

The currency pair has notably changed its behaviour, which has become much more hectic. Recently AUD/USD started to fall or rise precipitously after a few days of directionless movement. None of the nearby levels were capable of halting today's rally, which appears to be ready to extend up to 1.0534/60. This level in turn is the upper edge of the channel down pattern, from there the pair may start forming a down leg.

Event though the share of short positions has diminished, an overwhelming majority of market participants (72%) foresee weakening of the Australian Dollar relatively to its U.S. counterpart. The ratio between buy and sell orders, on the other hand, is 56% to 44%, accordingly.