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– based on MarketPulse
Pair's Outlook
The senior downtrend AUD/USD has been respecting for three and a half years already just proved its dominance by denying access to levels on the other side. The pair dipped 0.6 percent over Friday's morning session, keeping the monthly Pivot Point as its next target for now. We believe the pair could struggle with the level on Friday, and bounce from it in the next trading session. In case, however, the rate manages to close below the aforementioned level, the 55-day SMA will cut the losses completely or at least make the pair struggle at 0.7573 and so does the 55-day SMA and 100-day SMA crossover, but several significant levels above the pair could have the final word.
Traders' Sentiment
Long positions contribute 44% to trader sentiment and 63% of pending commands are to buy the Australian currency.
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