© Dukascopy Bank SA
"Australia has a housing bubble, their economy is slowing, and they're going to have to cut interest rates."
- Citigroup Inc. (based on Bloomberg)
Pair's Outlook
The Aussie dollar weakened against the US dollar as the currency couple is currently approaching 1.0162 (100-day SMA). If bearish mood persists, investors might encounter next support lines at 1.0083 (S2 Weekly) and 0.9988 (55-day SMA; S3 Weekly), respectively.
Traders' Sentiment
Compared to yesterday, bullish sentiment eased today as 67% of investors are keeping long positions on AUD/USD and 33% of market participants went short on the pair. Positioning of pending orders also changed as for now 53% of investors anticipate the pair to fall further and 47% of market participants expect the pair to commence trading in a bullish trend.
© Dukascopy Bank SA