AUD/USD retests the 20-day SMA

During Friday's trading session the pair sharply dropped to the weekly PP level at 1.0209, but today the pair has already regained its position and even surged above the 20-day SMA, which is currently located at 1.0257. The next resistance would be the monthly PP at 1.0285, but further movement will depend on the ability to overcome this SMA, since this was the main resistance in February.

Traders maintained the same sentiments over the weekend, as the sell side has the majority with 54% and the buy side has 46%. Pending orders' market is different, as 46% of orders stand for a short position and 54% for a long position.