© Dukascopy Bank SA
- Commonwealth Bank of Australia (based on The Business Times)
Pair's Outlook
The AUD/USD currency pair remained within the borders of the weekly and the monthly PPs yesterday, having experienced another small decline. The week is likely to end with neither of the mentioned levels getting pierced, although volatility could stretch further. From the technical point of view the Aussie should continue sliding down and find support circa 0.7445, represented by the weekly PP and the 20-day SMA. On the other hand, a relatively positive outcome is also not out of the question, with the Australian currency erasing yesterday's losses, thus, closing around the 0.7483 level. The bearish scenario, however, is more probable.
Traders' Sentiment
There are 63% of traders holding short positions today (previously 53%). Meanwhile, there are 69% of orders to sell the Australian Dollar.
© Dukascopy Bank SA