© Dukascopy Bank SA
- AxiTrader (based on Business Recorder)
Pair's Outlook
The Aussie managed to edge higher against the US Dollar for the third day this week, but the immediate resistance area still proved to be too difficult to pierce. However, the closest resistance, now represented only by the weekly PP at 0.7417, is unlikely to prevent the pair from edging higher today, despite technical studies suggesting a bearish outcome is more probable. The second possible area to limit the gains rests only around the 0.75 major level, which remains out of reach today, as there is no sufficient impetus for a surge that far. Ultimately, the AUD/USD currency pair is expected to stabilise around 0.7420 today.
Traders' Sentiment
For the third day in a row 52% of traders are long the Aussie, whereas the share of sell orders inched down from 58 to 57%.
© Dukascopy Bank SA