AUD/USD bounces from 55-day SMA

Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The Australian and New Zealand dollars are being bought as risk assets, so they tend to be correlated with stock moves. Amid the broader sell-off of the yen, the Aussie and kiwi are being chosen as higher-yielding currencies."
-  Tokai Tokyo Research Center Co. (based on Bloomberg Businessweek)  

Pair's Outlook

Pair advanced by more than 60 pips after receiving a bullish impetus from 55-day SAM at 1.034 yesterday. Although pairs outlook is rather neutral, stochastic indicator suggests it is not just a one time incident, but rather a start of a bullish rally which should test strong resistance areas around 1.044 and 1.047 rather soon.

Traders' Sentiment
For the second week, an overwhelming majority of market participants (no less than 70%) continue to hold short positions on AUD/USD—73% today. Pending orders are only in slight, 1%, favor for the bulls suggesting that market moods should not change any time soon.

© Dukascopy Bank SA

Actual Topics

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.