Note: This section contains information in English only."It will be very difficult for AUD/USD to benefit sustainably from mostly solid domestic fundamentals and still elevated commodity prices while Asian markets are in turmoil. We probably need a sharp rally in US Treasuries to even stabilise Asia, let alone spark a recovery."
- Westpac (based on TheBusinessTimes)
Pair's Outlook
[ANNOUNCE]The Australian Dollar behaved in accordance with expectations on Friday, having slumped against the US counterpart, crossing the 0.74 threshold.[/ANNOUNCE] Technical studies are no longer giving bearish signals, suggesting that the long-anticipated U-turn is nigh. However, the bullish momentum is likely to be limited by the Bollinger band, the monthly S2 and the weekly PP, which altogether form a strong supply area around 0.7390. Furthermore, the AUD/USD currency pair could continue falling down until a significant low is reached, such as the May low of 0.7145.
Traders' Sentiment
Market sentiment turned bullish over the weekend, having risen from 44 to 56%. The share of sell orders barely changed. The buy and the sell orders now take up 39% and 61% of the market, respectively.
Mon, 21 Nov 2016 14:26:53 GMT
Source: Dukascopy Bank SA
- Westpac (based on TheBusinessTimes)
Pair's Outlook
[ANNOUNCE]The Australian Dollar behaved in accordance with expectations on Friday, having slumped against the US counterpart, crossing the 0.74 threshold.[/ANNOUNCE] Technical studies are no longer giving bearish signals, suggesting that the long-anticipated U-turn is nigh. However, the bullish momentum is likely to be limited by the Bollinger band, the monthly S2 and the weekly PP, which altogether form a strong supply area around 0.7390. Furthermore, the AUD/USD currency pair could continue falling down until a significant low is reached, such as the May low of 0.7145.
Traders' Sentiment
Market sentiment turned bullish over the weekend, having risen from 44 to 56%. The share of sell orders barely changed. The buy and the sell orders now take up 39% and 61% of the market, respectively.