© Dukascopy Bank SA
"The weakening evident in Asian manufacturing at the start of the third quarter, may see some further downward pressure on hard commodity prices over the same period."
- Glenn Maguire, Asia Sentry Advisory Pty (based on Bloomberg)
Pair's Outlook
AUD/USD slightly recovered, and for now it maintains a bullish inertia. If bulls manage to develop a strong upward trend, then investors might encounter the second and third resistance levels at 1.0581 (R1 Monthly) and 1.0704 (R3 Monthly) as bullish momentum strengthens.
Traders' SentimentThe stance on AUD/USD is neutral as equal portion of long and short trades are held by investors (51%/49%). At the same time, the order disposition shows that 65% of investors hold bullish outlook on the Aussie Dollar-US Dollar currency pair.
© Dukascopy Bank SA