© Dukascopy Bank SA
- RBS (based on CNBC)
Pair's Outlook
AUD/USD has closed beneath the support area at 1.0353/40 (monthly PP and 55-day SMA), suggesting that the outlook on the pair is negative. The closest support will be found at 1.0289, followed by 1.0249, but neither of them are deemed to be significant enough to avert a sell-off down to the 1.0113, Mar 4 low, or even a bearish trend-line at 1.0074.
Traders' Sentiment
More and more SWFX market participants are willing to enter short positions on AUD/USD, as the downside risk increases. Currently 75% of retail traders bet that the Aussie is to decline in value. Conversely, the gap between the amounts of buy (58%) and sell (42%) orders is narrowing.
© Dukascopy Bank SA