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"It [Australian Dollar] has been quite resilient given that there is a lot of risk events coming up. We'll get a big move on Monday."
- Easy Forex (based on The Telegraph)
Pair's Outlook
AUD/USD rose further today as the market anticipates weak US macroeconomic data (Core CPI and Jobless Claims). Thus, if AUD/USD hold a bullish bias, 1.0059 (55-day ma) is going to be the initial target for bullish traders. Once the 55-day moving average is left behind, 1.0206 (R1 Monthly) and 1.0304 (Upper resistance level; 200-day MA) might be targeted by bullish investors.
Traders' Sentiment
The gap between the number of long and short positions remained almost unchanged on AUD/USD: 53% and 47%, respectively. However, 67% of currency traders expect the pair to within the range of 100 pips from the recent market price.
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