AUD/USD challenges 1.0560/34

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The Chinese data is a whole lot better than anyone expected with both imports and exports accelerating. That will only add to recent investor optimism that the Chinese rebound has got legs and should take the Aussie dollar higher."
- Bank of New Zealand( based on Bloomberg)


Pair's Outlook

The price has forcefully dented into a resistance zone at 1.0560/34, but is anticipated to have a hard time getting any further, since a nine-month high is situated nearby—at 1.0624. On the other hand, weekly and monthly technical indicators point to the upside and give a more optimistic outlook on the pair, even though median forecasts are beneath the spot price at the moment.

Traders' Sentiment
The portion of short positions has declined since yesterday (71%), but remains substantially greater than the share of long positions (29%), meaning that the pair stays oversold. Concerning orders, there is virtually no difference between the amounts of buy (53%)and sell (47%) orders.
© Dukascopy Bank SA

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