© Dukascopy Bank SA
- Sanderson Farms Inc. (based on Bloomberg)
Pair's Outlook
The AUD/USD continues its retreat from the year 2010 low at 0.807. Todays upward move showed a confident bullish candle, which looks like to be heading towards the weekly R2 and 20-day SMA to test the 0.821 level. Although, a short- term consolidation is likely, as the pair is trading well above the Bollinger band lately, trying to surpass the 4-hour 100-day SMA at 0.819. At the same time, there are no major levels to the upside that could possibly lead the pair to struggle in appreciation.
Traders' Sentiment
The market participants' sentiment have not changed too sufficiently from yesterday, as 73% of traders are holding their long positions. Short orders for 50 pip range are placed in majority for the 58% of opened positions.
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