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– BNZ (based on Business Recorder)
Pair's Outlook
The Australian currency managed to recover from all the losses, experienced on Friday, therefore, completely breaking the three-year down-trend. Today technical indicators keep giving bullish signals, implying that the AUD/USD currency pair is to continue climbing higher. However, the ceiling is still represented by the 0.77 psychological level, as the Aussie was unable to maintain trade above this area for half a year now. Nonetheless, tomorrow's RBA meeting could tip the scales and provide the commodity currency with sufficient strength to overcome the 0.77 barrier or to establish it as a strong resistance once more.
Traders' Sentiment
Market sentiment is bearish, with bears taking up 70% of the market. Meanwhile, the share of sell orders increased from 50 to 66%.
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