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"It looks like most economists are expecting no cut, and the market is expecting a very small chance of a cut. The Aussie is probably going to be well supported around these levels given that outlook."
- Andrew Salter, ANZ (based on Bloomberg)
Pair's Outlook
AUD/USD remains bullish though it inched slightly lower today. If the bullish momentum holds further, 1.0347 (R1 Weekly) is likely to be the next target. A breakout here would expose 1.0464 (R1 Monthly) and 1.0574 (23.60% Fibo), respectively.
Traders' Sentiment
Allocation of pending long and short positions on AUD/USD suggests that 69% of investors are bullish on the pair while 31% of traders are short on the pair. Presently, however, largest share of the market participants (68%) expect the Aussie Dollar to decline against the US dollar.
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