AUD/USD tests 0.8912/00

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"We're shifting back into an environment in which you'd want to sell into Aussie rallies. In the weeks ahead, the medium-term downtrend in the Aussie is likely to reassert itself."
- Citigroup (based on Bloomberg)


Pair's Outlook

After AUD/USD's failure last week to overcome the resistance represented by the 100-day SMA the price slid down to 0.8912/00. Here the currency pair is supported by the recently breached down-trend line and the monthly pivot point, meaning an upward correction is a likely course of events. However, judging by the weekly and monthly technicals, the bulls have a low chance of regaining control of the market.

Traders' Sentiment

For the time being the attitude of SWFX market participants towards the Australian Dollar does not seem to be affected by the recent fluctuations. At the moment the bulls remain in a distinct majority—64% of all traders.
© Dukascopy Bank SA

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