© Dukascopy Bank SA
- UOB Group (based on FXStreet)
Pair's Outlook
Thursday ended with the Aussie adding over 70 pips against the US counterpart, breaching two immediate resistance levels. The pair was mainly driver by an increase in oil prices, which keeps bolstering the Australian Dollar today as well. So far, along with mixed US employment data, it helped the commodity currency to erase all intraday losses and stabilise above the weekly R2. Meanwhile, technical indicators are giving mixed signals, which suggests trade is unlikely to close far in the green zone. Consequently, the immediate resistance around 0.77 is to remain intact today.
Traders' Sentiment
There are 57% of traders with a negative outlook towards the Aussie today, compared to 68% on Thursday. At the same time, 52% of all pending orders are to purchase the Australian currency (up from 45%).
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