Note: This section contains information in English only."Another RBA rate cut and lower commodity prices should reinforce pressure on AUD/USD multi-week/month, to the low 0.70s. Anticipation of a Fed rate hike in December should underpin a broad-based (though not steep) USD up trend in coming months."
- WIB (based on WBP Online)
Pair's Outlook
[ANNOUNCE]The AUD/USD currency pair managed to reconquer the 0.75 level yesterday, but gains were still limited by the immediate resistance cluster.[/ANNOUNCE] Today the technical indicator signals shifted from bullish to mixed, suggesting that the Aussie could suffer a decline today. However, the Australian Dollar is unlikely to negate all Tuesday's gains, as the three-month up-trend is supporting the currency at 0.7477, also reinforced by the 100-day SMA. We should not rule out the possibility of the exchange rate falling deeper, as the FOMC could surprise with hawkish statement today, therefore, boosting the US currency. Contrariwise, a dovish tone could trigger another rally for the pair.
Traders' Sentiment
Now three quarters (75%) of all open positions are short, compared to 74% yesterday. The number of buy orders inched up from 26 to 57%.
Wed, 27 Jul 2016 13:47:03 GMT
Source: Dukascopy Bank SA
Pair's Outlook
[ANNOUNCE]The AUD/USD currency pair managed to reconquer the 0.75 level yesterday, but gains were still limited by the immediate resistance cluster.[/ANNOUNCE] Today the technical indicator signals shifted from bullish to mixed, suggesting that the Aussie could suffer a decline today. However, the Australian Dollar is unlikely to negate all Tuesday's gains, as the three-month up-trend is supporting the currency at 0.7477, also reinforced by the 100-day SMA. We should not rule out the possibility of the exchange rate falling deeper, as the FOMC could surprise with hawkish statement today, therefore, boosting the US currency. Contrariwise, a dovish tone could trigger another rally for the pair.
Traders' Sentiment
Now three quarters (75%) of all open positions are short, compared to 74% yesterday. The number of buy orders inched up from 26 to 57%.