"AUD/USD holding just 3 pips below resistance at 7386/90 on Thursday keeps the pressure on for a retest of 7330 and perhaps as far as strong 16 month trend line support at 7295/85."
— Jason Sen (based on Investing.com)
Pair's outlook
On Thursday, the Aussie ended its second consecutive day with gains, confirming the validity of the downward-sloping channel. It could be expected that in the short-term period, AUD/USD continues its upward momentum until the upper channel boundary circa 0.7440. Currently, the pair is demonstrating strong volatility that resulted from sluggish fundamentals from the US. It should be expected that this momentum slows down, thus trading below the monthly S1. The price target for today might be set towards the 0.7390/0.400 area. Trend indicators are slowly decreasing their bearish outlook; however, more reliable indications are needed to confirm that the pair is changing its direction.
Traders' sentiment
There are 59% of traders holding long positions. However, 62% of pending orders are to sell the Aussie.
| Sentiment | Today | Yesterday | 5 days ago | |
| Positions | 18% | 24% | 4% | |
| Orders | -24% | 30% | 22% | |
| Indicator | 1D | 1W | 1MN | |
| MACD (12; 26; 9) | Sell | Sell | Sell | |
| RSI (14) | Neutral | Neutral | Neutral | |
| Stochastic (5; 3; 3) | Sell | Sell | Sell | |
| ADX (14) | Sell | Neutral | Neutral | |
| CCI (14) | Neutral | Buy | Neutral | |
| AROON (14) | Buy | Buy | Buy | |
| Alligator (13; 8; 5) | Sell | Sell | Neutral | |
| SAR (0.02; 0.2) | Sell | Sell | Buy | |
| Aggregate | ↘ | ↘ | → | |