© Dukascopy Bank SA
- Mizuho Securities Co. (based on Bloomberg)
Pair's Outlook
The trading range of the currency pair has decreased quite a bit, as bears are unable to overthrow bulls at 1.0462/39, while the latter ones are wary of entering the market at higher levels, bearing in mind proximity of a declining resistance line. Still, weekly and monthly technical indicators are bullish, meaning that AUD/USD not reaching the lower edge of the pattern could be a sign of a soon breakout of 1.0534/60.
Traders' Sentiment
Fundamentally, there is no change in SWFX traders' sentiment towards AUD/USD, since a notable majority (70%) of market participants foresee a weaker Australian Dollar relatively to the greenback. Orders, on the other hand, are silent, as 48% of them are buy and the rest (52%) - sell.
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