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"The retail data were certainly worse than expected," "The market is in risk-off mode and, as such, is continuing to look to sell into rallies in the higher-yielding currencies including the Aussie."
- Callum Henderson, global head of currency research at Standard Chartered Plc. (based on Bloomberg)
Pair's Outlook
Bullish trend in AUD/USD is weak as uncertainty over Greece does not support bulls at the moment. Therefore, if the pair moves higher, it is likely to test the psychological level at 0.9900. However, if the pair fails to move higher, it could retrace to the lower Bollinger band zone (0.9690/0.9662), however, these levels could provide a great support for bulls to reiterate a bullish reversal.
Traders' Sentiment
Traders' sentiment is neutral on AUD/USD currency pair, as the share of long and short positions is nearly the same, being 48 and 55 per cent, respectively.
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