© Dukascopy Bank SA
- RBS (based on the Australian)
Pair's Outlook
The Australian Dollar gained, after a sluggish performance at the beginning of the trading week. Today the pair continued to hover around the cluster of resistances (55 and 100-day SMA, weekly R1 and monthly PP), which was approached already yesterday. Now, if AUD/USD manages to overtake this obstacle then most likely it will approach the 0.94 level. However, to our mind the pair is poised to give up its bullish ambitions and to slide back to 0.93 level.
Traders' Sentiment
Since the pair's sentiment fell significantly yesterday there has not been much changes and 58% of the traders have shorted the pair. Concerning the orders placed 100 pips from the spot, there are now slightly less commands to buy—51%.
© Dukascopy Bank SA