AUD/USD stays at 0.9404/0.9379

For the time being AUD/USD is supported by the area at 0.9404/0.9379, but nevertheless hesitates to rally, even though an overwhelming majority of technical indicators on a daily time-frame are giving ‘buy' signals. Moreover, the resistance at 0.9539/08 creates another obstacle for a possible advancement, but the bullish run from the beginning of September is more likely to end somewhere around 0.97, where the 200-day SMA merges with the 50% Fibo retracement of the April-August decline.

Regardless of the current percentage of bullish market participants being rather far away from the most recent records, the advantage of longs (65%) over shorts (35%) is nonetheless significant. As for the pending orders, most (59%) of them are to acquire the Australian Dollar.