© Dukascopy Bank SA
- BNP Paribas (based on FXStreet)
Pair's Outlook
The AUD/USD surprised with its performance yesterday, as it posted partially pierced through the immediate resistance cluster. The pair is now being supported by the 100-day SMA, the monthly and weekly PPs around 0.7180, while the 55-day SMA is the closest resistance at 0.7203. However, US Dollar weakness triggered the a sharper rally today, which even the second resistance, namely the 20-day SMA, around 0.7237 was unable to stop for now. The weekly R1 is today's final resistance, but trade could still close between the 20 and 55-day SMAs.
Traders' Sentiment
Market sentiment is still bullish at 72% (previously 73%). Meanwhile, the majority of all pending orders (54%) are to sell the Aussie.
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