© Dukascopy Bank SA
- National Australia Bank Ltd. (based on Bloomberg)
Pair's Outlook
Seemingly strong AUD/USD's rally from the three-year low is currently being quickly trimmed, as the resistance at 0.9577/57 gained the upper hand in the end, sending the pair back towards 0.9387/71. Judging by the price's action near this mark last week, we should be wary of spikes that may easily extend down to the monthly S1 level at 0.9269.
Traders' Sentiment
In spite of a sharp drop of the Aussie's price recently, bullish sentiments with respect to AUD/USD were not attenuated even by a fraction, but remain resilient at 74%. However, the distribution between the buy and sell orders was subject to significant changes—now the majority is taken by the sell orders (55%).
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