AUD/USD pushes through 100-day SMA

The 100-day SMA was unable to restrain the currency for long and has finally allowed for a dip down to the 200-day SMA at 1.0382, which has a higher chance of preventing additional losses of the Aussie in the future. Moreover, we have supplementary supports nearby, at 1.0364/54 and at 1.0336. Still, they are more likely to postpone the decline rather than to initiate a full-blown reversal, since in the big picture the price is moving away from the upper edge of the channel towards to its lower edge at 1.0112.

The sentiment of market participants is rapidly turning to neutral, as the share of long positions has risen up to 40%, while the portion of shorts has declined to 60%. The ratio between buy and sell orders is 52% to 48%, respectively, introducing no clear insight into the preferences of the traders.