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- Westpac (based on the Australian)
Pair's Outlook
The Aussie's down-trend has been halted by the support at 0.82; however, a similar occurrence was witnessed around the 0.83 level; therefore, it does not especially mean that the retreat has ended. Moreover, the daily and weekly technical studies are still pointing to the south, continuing to put a bearish pressure on the pair. To our mind the AUD/USD cross will continue its way down towards the psychological level at 0.80.
Traders' Sentiment
As evidenced by the SWFX traders' sentiment, about seven out of ten traders believe that the Aussie is going to appreciate relative to US Dollar. In the meantime, the portion of sell orders increased, from 54% to 65%.
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