AUD/USD reaches 7 week low - Technical Analysis - Dukascopy Bank

Tue, 04 Sep 2012 14:54:39 GMT
Source: Dukascopy Bank SA
 
© Dukascopy Bank SA
"It just adds to this negativity that's starting to creep into the markets. There's quite a number of factors working against it (the Australian dollar)."
- Easy Forex (based on Market Watch)

Pair's Outlook
Pairs outlook remains negative in the short term. However, it is likely that cluster of support levels at 1.0184/73 will at least slow down the pair or even will push it closer to 1.03.
 
Traders' Sentiment
After three week of bearishness, market sentiment is bullish for the second day and remains at 56% mark. However, amount of pending sell orders increased to 58% since yesterday suggesting that market sentiment might reverse soon.

© Dukascopy Bank SA

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