© Dukascopy Bank SA
- Commonwealth Bank (based on the Australian)
Pair's Outlook
The pair continues to trade in bearish manner, the Aussie has lost more than 150 pips of its value against its US counterpart. Nevertheless, we still think that the pair will continue to trade around the current levels, not noticeably below the 0.85 mark. Although, the weekly technical indicators are more bearish, with the daily and monthly ones being neutral. In case of the bullish scenario, we see the pair testing the 0.86 level.
Traders' Sentiment
There are relatively more bullish market participants than yesterday, the overall sentiment towards AUD/USD is distinctly positive—more than 71% of positions are long. As for the orders, 66% are to purchase the Aussie against the Greenback.
© Dukascopy Bank SA