Note: This section contains information in English only."Neither a positive signal sent out by the labour market report (on Friday) nor the willingness of the Fed to hike rates is likely to constitute a reason for the market to trade the dollar stronger today."
– Commerzbank (based on Reuters)
Pair's Outlook
[ANNOUNCE]Hawkish RBA caused the Australian currency to reach the second resistance area yesterday, with trade closing near the forecasted level of 0.7660.[/ANNOUNCE] Today the Aussie is likely to keep outperforming its US counterpart, with yesterday's main resistance area now being the target. Technical indicators also suggest the AUD/USD currency pair is to appreciate today, but the target, namely the 0.77 major level, is still unlikely to be reached. However, with the FOMC statement due later today, a dovish tone could spark more USD-selling, which has the potential to push the pair even towards another psychological resistance around 0.7740.
Traders' Sentiment
Today 65% of traders are short the Aussie, unchanged since Tuesday, whereas the share of buy orders increased from 52 to 56%.
Wed, 02 Nov 2016 15:49:00 GMT
Source: Dukascopy Bank SA
– Commerzbank (based on Reuters)
Pair's Outlook
[ANNOUNCE]Hawkish RBA caused the Australian currency to reach the second resistance area yesterday, with trade closing near the forecasted level of 0.7660.[/ANNOUNCE] Today the Aussie is likely to keep outperforming its US counterpart, with yesterday's main resistance area now being the target. Technical indicators also suggest the AUD/USD currency pair is to appreciate today, but the target, namely the 0.77 major level, is still unlikely to be reached. However, with the FOMC statement due later today, a dovish tone could spark more USD-selling, which has the potential to push the pair even towards another psychological resistance around 0.7740.
Traders' Sentiment
Today 65% of traders are short the Aussie, unchanged since Tuesday, whereas the share of buy orders increased from 52 to 56%.