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- IG (based on the Australian)
Pair's Outlook
The Aussie has breached the major level and 55-day SMA at 0.9300/08 as it continues to trade not that far from the higher levels this year. One of the major catalyst for this pair will be whether it will maintain its position above the 0.93 level. In case it fails then we might see a drawback towards the weekly S1 at 0.9229; however, if it holds its current position until today's close then the Aussie might approach the weekly R1 at 0.9347.
Traders' Sentiment
The difference between the amounts of long (52%) and short (48%) positions open on AUD/USD has narrowed since the previous report. In the meantime, the share of orders to enter the market with a buy trade edged up and reached 36%.
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