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- Western Union Business Solutions (based on the Australian)
Pair's Outlook
After yesterday's drop below the 0.82 mark, the pair has recovered today and it trades around the weekly S1 at 0.8183. Even though, AUD/USD rebounded today it still is under a strong bearish pressure and it is not clear whether it will be able to surpass the 0.82 level in the blink of an eye. Moreover, the majority of the weekly technical studies are continuously pointing to the south, thus increasing the risks of a further decline.
Traders' Sentiment
Current decline is not apparently discouraging the SWFX traders; as compared to the yesterday's readings, the share of long positions stays around the same levels, namely 73%. At the same time the gap between the buy (32%) and sell (68%) orders is narrowing.
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