© Dukascopy Bank
"Circumstances today in the United States call for continued measured efforts to quicken the pace of recovery and shrink unemployment, while keeping inflation controlled."
- Dennis Lockhart, Atlanta Federal Reserve Bank President (based on Reuters)
Pair's Outlook
As the US dollar slightly weakened across the board, the Aussie managed to add to gains today, recovering after a prolonged downfall from 1.0850 area. If the bullish correction intensifies, traders are likely to set 0.9954 (61.80% Fibo, R1 Daily) as their initial profit target. It is going to be a strong resistance for the bullish investors, yet a break here would expose 0.9982 (R1 weekly).
Traders' Sentiment
Bullish traders' sentiment has lessened on AUD/USD today as more market participants expect the pair to decline (45%) compared to the same figure yesterday. However, within the 100-pip range, investors are optimistic on the strengthening of bullish correction (60%).
© Dukascopy Bank