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- Jameel Ahmad, FXTM (based on Market Watch)
Pair's Outlook
On Thursday, AUD/USD edged down, but not as much as expected. The Aussie failed to reach the monthly pivot point, as the currency ended its trading session at 0.7826. As for Friday, the Australian Dollar is likely to decline against its US counterpart, despite slightly worse US fundamental data. However, the technical indicators are giving mixed signals, and the closest support retains its position at 0.7782. Meanwhile, nearest resistance can be found at 0.7841, represented by the 55-day SMA.
Traders' Sentiment
Bulls among the SWFX traders regained one percentage point to 67%. Meanwhile, a majority (52%) of orders are now set to sell the Aussie.
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