AUD/USD rebounds from monthly PP

Source: Dukascopy Bank SA
© Dukascopy Bank SA
"If higher inflation persists, it will challenge Yellen's dovish view that this is just a temporary phenomenon. The contrast is becoming more notable between ECB and Fed policy."
- Bank of Tokyo-Mitsubishi UFJ Ltd. (based on Bloomberg)


Pair's Outlook
It seems that the monthly PP at 0.9368 was too significant obstacle to surpass. Moreover, this level not only halted the decline but also gave a bullish impetus to the Aussie and it approached the 0.94 mark. The technical studies do not provide with a clear outlook; therefore, they should not determine much. However, the more important driver could be whether the pair holds its positions above the 0.94 level.

Traders' Sentiment
The distribution between the proponents and opponents of the Aussie's appreciation relative to the Greenback remains more or less the same as 24 hours ago—59% and 41% accordingly. In the meantime, the share of sell orders fell from 34% down to 25%.
© 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.