AUD/USD heads for weekly gains

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"It's only a forecast but it's better than previous so there's a lot of investors or traders trying to jump onto this currency early to take a position."
- Easy Forex (based on AAP)


Pair's Outlook
The Aussie has managed to outperform the US counterpart despite the majority of the technical indicators being to the downside. As mentioned the daily and especially weekly technical studies are bearish, while the monthly ones are neutral. If the pair sustains its positions above the 0.87 level it could even approach the monthly PP at 0.8785; although, we are sceptical on that to happen. We see the pair sliding below the 0.86 mark.

Traders' Sentiment
At the same time the traders' are strongly bullish on the pair, as many as 74% of them have opened a long positons with a expectance of an advance. In the meantime, the share of sell orders grew from 57% up to 58%.
© Dukascopy Bank SA

Actual Topics

Subscribe to "Fundamental Analysis" feed

Souscrire
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.