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- BNP Paribas SA (based on Bloomberg)
Pair's Outlook
The AUD/USD bravely rebounded from the weekly S1 at 0.803 and proceded to grow toward the 4-hour 55-day SMA together with the nearly positioned 100– day SMA. If the uptrend continues tomorrow, the Bollinger band could act as a future resistance level at 0.814 or the 20-day SMA, if looking at the daily chart. Overall, the US dollar weakened Today versus the Aussie for almost 60 pips.
Traders' Sentiment
Less traders are willing to buy the pair, however, the sentiment is still quite bullish as 73% of opened positions are long. Meanwhile, 24% of market participants expect to buy in a 100-pip range, whereas more than 31% are willing to buy once the cross reaches the 50-pip distance.
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