© Dukascopy Bank SA
– based on Daily FX
Pair's Outlook
The Australian Dollar continued to struggle in booking gains against the US Dollar on Monday. The pair faced the resistance put up by the monthly pivot point at 0.7589, which seemed to have been broken on Friday. The currency exchange rate is most likely set to break through the rate, if not for one fundamental announcement set for early Tuesday morning. The Reserve Bank of Australia is set to publish its rate at 4:30 GMT on Tuesday, and it can move the exchange rate in either directions. However, experts forecast no changes in the rate, which would mean that the pair will continue to surge during this week.
Traders' Sentiment
There are 52% of traders with a positive outlook towards the Aussie, compared to 54% on Friday. At the same time, the pending orders shifted and are 74% to buy.
© Dukascopy Bank SA