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- Commerzbank (based on FXStreet)
Pair's Outlook
After reaching Thursday's open price, the AUD/USD bounced back significantly, limited the losses. As a result, the Aussie remained relatively unchanged against the Greenback, declining only seven pips. Nevertheless, pair opened lower today and risks breaching the immediate support and falling to the 0.71 major level after all, as the weekly pivot point at 0.7152 is keeping the Australian Dollar from climbing. Furthermore, technical indicators are giving bearish signals, bolstering the possibility of the negative outcome.
Traders' Sentiment
SWFX traders' sentiment returned to its last Thursday's level of 74%, up from 71% on Friday. The number of purchase orders also improved, edging higher from 27 to 44%.
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