AUD/USD bound by 200 day and 55 day SMA's

Source: Dukascopy Bank SA
© Dukascopy Bank SA
"We're encouraging the speculative flows because we have, by any international standards, very high real interest rates, so people can get a real interest rate return."
- Arrium (based on The Australian)

Pair's Outlook

AUD/USD advancement was stopped at 1.0386. Technical indicators show that pairs downside risk persists and it is likely that 55 day SMA should have enough power to push pair closer or even below 200 day SMA  at 1.034.
 

Traders' Sentiment

After three weeks of bearishness, market sentiment is bullish for almost a week now. Amount of traders holding long positions remains around the same, 54%, mark since Thursday. In addition, 55% of all pending orders are buy orders.

© Dukascopy Bank SA

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