"With China being Australia's biggest trading partner, economic news-flow from the former country often implies knock-on effects on the latter, triggering a response from the currency."
— Daniel Dubrovksy (based on Daily FX)
Pair's outlook
AUD/USD points to stronger downside risks in this trading session. A breakout of the weekly PP at 0.7463 did not provide any hindrance; nevertheless, the downside potential until the 20-day SMA at 0.7429 indicates that there may still be some support along the way. Technical indicators on the hourly chart suggest that the rate may be halted by a support cluster circa 0.7448/44 formed by the 55– and 100-hour SMAs and the lower Bollinger band. Thus, the base scenario favours a close in the 0.7460/50 territory.
Traders' sentiment
Market sentiment has not change for three consecutive days, being at 51% long positions. In addition, 67% of set up orders are to buy the Aussie.
| Sentiment | Today | Yesterday | 5 days ago | |
| Positions | 2% | 2% | 2% | |
| Orders | 34% | 34% | -2% | |
| 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) | Neutral | Neutral | Neutral | |
| CCI (14) | Neutral | Neutral | Neutral | |
| AROON (14) | Buy | Buy | Buy | |
| Alligator (13; 8; 5) | Neutral | Sell | Sell | |
| SAR (0.02; 0.2) | Buy | Sell | Buy | |
| Aggregate | → | ↘ | → | |