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- Capital Economics (based on WBP Online)
Pair's Outlook
The Australian Dollar declined versus the US Dollar yesterday, but remained above the 0.77 psychological level. However, the 20-day SMA failed to prevent the fall, as the AUD/USD stabilised at 0.7706. The Aussie is expected to rebound today and even erase yesterday's losses. Furthermore, if the given pair receives a strong enough boost, it might even negate the weekly losses. Nonetheless, the nearest significant resistance rests at 0.7752, represented by the weekly PP, while technical studies retain their mixed signals.
Traders' Sentiment
Exactly three fourths of open positions are long today (previously 71%). Meanwhile, the portion of commands to buy the Aussie doubled, as the orders now account for 42% of the market.
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