© Dukascopy Bank SA
- CommSec (based on the Australian)
Pair's Outlook
AUD/USD has little changed today, after last week's fluctuation, when the pair breached the monthly PP at 0.9362 and later dropped below Bollinger Bands at 0.9258. The next key level for bearish traders is the weekly and monthly S1 at 0.9222/19, which is just slightly above the May low and major level at 0.9203/00. To our mind this group of support levels should keep the pair above the 0.92 mark for now. Also, the weekly technicals are slightly bullish and that should slow the current decline.
Traders' Sentiment
The bullish sentiment towards the pair is continuing to grow and at the moment it has reached 62%. In the meantime, the share of sell orders grew significantly from 33% up to 64%.
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