© Dukascopy Bank SA
- Westpac Banking Corp. (based on Bloomberg)
Pair's Outlook
AUD/USD slipped below the 0.87 mark and traded just a couple of pips above this year's high at 0.8660 earlier today. Additionally, yesterday the Aussie posted daily gains for the first time in five trading days. In the near-term, we expect the pair to continue trading around the current levels. Moreover, for the pair's bulls the target is the major level at 0.88, where also sits the weekly PP at 0.8805.
Traders' Sentiment
The sentiment towards the Aussie has changed from moderately bullish to strongly bullish, being that the percentage of short positions open on AUD/USD has surged from 58% up to 73% in the last five trading days.
© Dukascopy Bank SA