"Scepticism about Trump's ability to follow through on his campaign promises has been growing over time as reflected in the flattening of the U.S. yield curve and weakening of the U.S. dollar since the beginning of the year."
— Intermediate Capital Group (based on CNBC)
Pair's outlook
This trading session can be characterized by strong upside and downside volatility but lack of strong market movers, demonstrating that neither bulls nor bears managed to take the upper hand. The situation, however, may swiftly change to either side, giving rise to two possible scenarios for today. On the one hand, the closest resistance limiting the pair is the 20-day SMA at 0.7449. Penetration of this level may set the pair slightly above the given level but not exceed the upper channel boundary. On the other hand, the Aussie may also edge lower towards the monthly S1 located at 0.7407. In case the current situation remains the same, the pair is expected to close near the weekly R2.
Traders' sentiment
Market sentiment is bullish, as 62% of open positions are long. In addition, 66% of pending orders are to buy the Aussie.
| Sentiment | Today | Yesterday | 5 days ago | |
| Positions | 24% | 22% | 2% | |
| Orders | 32% | 2% | 6% | |
| Indicator | 1D | 1W | 1MN | |
| MACD (12; 26; 9) | Sell | Sell | Sell | |
| RSI (14) | Neutral | Neutral | Neutral | |
| Stochastic (5; 3; 3) | Sell | Sell | Sell | |
| ADX (14) | Neutral | Neutral | Neutral | |
| CCI (14) | Neutral | Buy | Neutral | |
| AROON (14) | Buy | Buy | Buy | |
| Alligator (13; 8; 5) | Sell | Sell | Neutral | |
| SAR (0.02; 0.2) | Buy | Sell | Buy | |
| Aggregate | → | ↘ | → | |