© Dukascopy Bank SA
- OM (based on the Australian)
Pair's Outlook
The Australian currency continues to hover above the 0.93 level and today it reached the 55 and 100-day SMAs at 0.9349/45, respectively. According to the technical indicators, we might see a further advance towards the weekly and monthly R1s at 0.9379/90, as the daily and weekly indicators point upsides. Nonetheless, if the pair fails to break the 55 and 100-day SMAs then a drawback to the 0.93 mark is possible.
Traders' Sentiment
The sentiment towards AUD/USD slightly improved, but a majority of the market participants are still expecting the Aussie to underperform, namely 53% of them. At the same time the gap between the buy (64%) and sell (36%) orders is widening.
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