AUD/USD lacks bullish impetus to breach 1.04

Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The U.S. dollar is bid at the moment because of the uncertainty in Europe, and that's putting other currencies on the back foot, including the Aussie and kiwi." 
- Commonwealth Bank (based on Bloomberg)

Pair's Outlook

The Aussie failed to breach the 1.04 level for a fourth straight trading session, as the price fluctuates just beneath the 1.0394/1.0426 resistance, which is formed by the monthly R1; 100-day and 200-day SMAs. In case the pair remains below this level, the sentiments can change and inflame a bearish impetus. The closest support lies at 1.0350, where the 55-day SMA is currently positioned.

Traders' Sentiment
Distribution of bullish and bearish sentiments remains exactly the same as yesterday, since 28% of positions represent bulls. Waiting order segment brings out opposite sentiments, as the majority, 64%, of orders are buy.
© Dukascopy Bank SA
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Wed, 20 Mar 2013 16:39:03 GMT

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