© Dukascopy Bank SA
- Westpac (based on FXStreet)
Pair's Outlook
The Aussie slightly overperformed on Friday, as its volatility reached the 0.72 major level against the Buck and trade closed at 0.7170. Today the monthly and weekly PPs, as well as the 55 and 100-day SMAs, are forming a rather strong resistance cluster around 0.7185. Even though there is still room for further appreciation, the Antipodean currency is expected to decline again, taking another step towards eventually retesting the up-trend. Immediate support is represented by the Bollinger band, located around 0.7123.
Traders' Sentiment
Traders' sentiment remains bullish, but now at 73% (previously 70%). At the same time, the number of sell orders lost 18 percentage points. The orders now take up 58% of the market.
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