© Dukascopy Bank SA
"The best way to describe the situation is that in high-stakes toss-up decisions, most will expect the FOMC to take the path of easier policy."
- JonesTrading (based on MarketWatch)
Pair's Outlook
AUD/USD did not behave as expected—the pair closed above the upper trend-line that forms the channel. However, there is a couple of notable supply levels that could prevent further recovery of the Aussie. The immediate resistance is at 0.7197, represented by the monthly PP. This is followed by the weekly R2 and 55-day SMA at 0.7245/22. Meanwhile, the indicators are mixed, suggesting there might not be a strong follow-up rally as a result of the breakout.
Traders' Sentiment
There are relatively less long positions in the market than yesterday, but the sentiment is nevertheless bullish, since they still take up as much as 71% of the market. At the same time the share of sell orders went from 56 down to 52%.
© Dukascopy Bank SA