AUD/USD closes in on 1.0560/34

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The Aussie is struggling to rise. I can't see an immediate pickup in corporate confidence or retail sales."
- Satoshi Okagawa, Sumitomo Mitsui Banking Corp. (based on Bloomberg)


Pair's Outlook

Despite the difficulties the pair has been facing lately, the price remains in an up-trend and should soon challenge 1.0560/34, where the it is expected to be strongly bid. Further extension of the rally is not deemed as a likely scenario, as the next resistance level at 1.0624 is the highest in 2012. Accordingly, an increasing demand for the aussie is not viewed as a sustainable trend.

Traders' Sentiment
AUD/USD currency pair may be considered as oversold, since an absolute majority (74%) of SWFX marketplace participants are holding short positions on it. The ratio between buy (48%) and sell (52%) orders wanders around a neutral zone and gives no particular insight into preferences of the traders.
© Dukascopy Bank SA

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