AUD/USD slides lower

Today AUD/USD showed even more weakness after a failure to overcome the resistance represented by the monthly R3 at 0.9528. The support at 0.9404/0.9380 has not yet been technically broken, but at the same time it is easy to imagine the Aussie moving contrary to what the daily studies are implying. However, the sell-off will encounter tough levels, such as 0.9312, 0.9298/80 and 0.9255, meaning the downside may be limited.

The gap between the bullish and bearish towards AUD/USD market participants is unchanged from what we saw yesterday. The portion of the former stays at 65%, while the latter are still in a minority with only 35% of the total amount of traders.