AUD/USD near support of minor channel, bulls activating

Note: This section contains information in English only.
Source: Dukascopy Bank SA, Dukascopy Bank SA
© Dukascopy Bank SA
"The breakdown [of PPI] was unsurprising given that we had the Aussie dollar fall in the quarter"
- Janu Chan, St George economist (based on Bloomberg)

Pair's Outlook
Aussie has been on the decline for the last three trading days, and AUD/USD is currently testing the 20-day SMA at 1.0253 (near Support 2). If the level is broken, we are likely to see a slide towards parity, where activation of bulls is expected. Weekly R1 at 1.0417 is capping the pair's potential bullish moves, serving as the first target for long traders.

Traders' Sentiment
Almost 62% of traders believe in the bullish scenario, amid 38% attempting to push the pair lower. Traders all over the globe were positively surprised by Australian PPI release, giving additional hopes on pair's further augmentation.



© Dukascopy Bank SA
Back to articles

Actual Topics

Mon, 23 Jul 2012 15:40:05 GMT

USD/CAD Minor downward correction expected after a 3-day rally

USD/CAD is edging towards the R2 (20-day SMA) at 1.0175, while a minor correction is expected today, closer to 1.0112 (Daily forecast). The first significant barrier to the pair's downfall is near the 200-day SMA at 1.0107. Meanwhile, USD/CAD bullish movements are capped by weekly R3 at 1.0257.

Mon, 23 Jul 2012 15:31:11 GMT

EUR/JPY Slight correlation expected, near-term focus on 95.72/86

EUR/JPY is hitting its eleven-year low, and currently is trading around 94.58 after re-emergence of Greek exit talks and turmoil in Spanish banking sector today. A slide towards the 90.00 psychological level will strongly be detained by the lower Bollinger band at 93.60. A small correction is expected by the largest market participants to 65.72/86 with a further slide afterwards.

Subscribe to "Fundamental Analysis" feed

Souscrire
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.