© Dukascopy Bank SA
- FXCM (based on the Australian)
Pair's Outlook
The Aussie has fluctuated between the weekly PP and weekly R1 at 0.8786/0.8852 for most of the time this week. Currently it is slightly below this week's opening level, though no major buying/selling activity was witnessed. Also, the majority of the technical studies are neutral, thus we are likely to see this sideway trend for some time. Moreover, we expect the 20-day SMA to continue to be as reliable support as it has been through last two weeks.
Traders' Sentiment
The sentiment towards AUD/USD has not changed for three days and it continues to be very much bullish, as 74% of the SWFX traders' have opened long positions on the pair. Meanwhile, the share of buy orders grew slightly from 48% up to 49%.
© Dukascopy Bank SA