© Dukascopy Bank SA
- ANZ (based on WBP Online)
Pair's Outlook
Despite strong volatility to the downside, the AUD/USD currency pair still managed to edge higher. The pair remained within the borders of the 20-day SMA and the weekly PP, but with risks of falling again today. Technical indicators are still showing mixed signs, but, nonetheless, we expect the Aussie to decline again today. The consolidation, which lasted for three weeks, is likely to be extended through this week as well. The 20-day SMA keeps providing support, but the Australian Dollar might even fall under the 0.77 psychological level.
Traders' Sentiment
Less traders now have a positive outlook towards the Aussie, the portion of buy commands declined from 34 to 21%.
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