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- ANZ (based on WBP Online)
Pair's Outlook
The bearish scenario prevailed on Friday, with the AUD/USD currency pair experiencing a 54-pip decline. Despite bullish technical indicators and the fact that the Aussie opened on top of the weekly PP, the pair still risks falling deeper down today. The exchange rate appears to be reluctant to remain above the 0.76 major level, but the second support area, namely the weekly S1 and the 20-day SMA cluster around 0.7510, is unlikely to be reached. However, we should not rule out the possibility of the Australian Dollar at least partially erasing Friday's losses, as the current trend has been bullish for nearly two months now.
Traders' Sentiment
Today 71% of traders are short the Aussie, compared to 75% on Friday. The share of sell orders increased again, namely from 60 to 70%.
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