AUD/USD contained by 0.8895/45

As it turned out in the end, the bullish impetus AUD/USD exhibited yesterday proved to be unable to pierce through the resistance created by the August low and the weekly pivot point. Consequently, the Aussie is likely to move in accordance with the technical studies, a substantial majority of which are suggesting a decline in the short and long term.

Even though the Australian Dollar failed to keep the bullish momentum, an absolute majority of positions opened on AUD/USD are long, namely 73% of them (74% yesterday). Meanwhile, the amounts of buy (52.5%) and sell (47.5%) orders are now nearly equal.