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- Loomis, Sayles &Co. (based on Bloomberg)
Pair's Outlook
In wake of mixed fundamental data results last Friday, the Australian currency ended the day relatively unchanged against its US counterpart. Technical indicators also imply the AUD/USD could remain flat for another day today. Nevertheless, there is sufficient space for the Aussie to drop down to 0.7035—where the two-week support line is located. The weekly and the monthly PPs are somewhat bolstering that up-trend, whereas the closest supply to limit he rally or even cause a trend reversal is located circa 0.7143, represented by the Bollinger band, the 55 and 100-day SMAs.
Traders' Sentiment
Bulls remain strong, taking up 72% of the market, whereas the share of orders to sell the Aussie increased from 59 to 64%.
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