© Dukascopy Bank SA
"Markets are going to be nervous up until the Greek election. Aussie is keeping just below parity because of these concerns."
- St. George Bank Ltd. (based on Bloomberg)
Pair's Outlook
AUD/USD advanced further after the release of the weak US monthly core retail sales (-0.4% act./0.1% est.). Thus, if AUD/USD sticks to an upbeat impetus, 1.0085 (55-day ma) is going to be the next target after 0.9900 (psychological level) has been breached. Once the 55-day moving average is left behind, 1.0206 (R1 Monthly) is likely to be in focus among bearish traders.
Traders' Sentiment
The share of long positions in the market has slightly increased and now bullish trades constitute 43% of the total amount of positions on AUD/USD. At the same time the portion of shorts has dropped to 57%. Within the scope of 100 points from the recent market price, 63% of traders expect the pair to remain bullish.
© Dukascopy Bank SA