© Dukascopy Bank SA
"The Aussie and kiwi are lower mainly because the equity markets have fallen out of bed overnight."
- Westpac (based on Bloomberg)
Pair's Outlook
This week we have seen AUD/USD advancing: it has broken weekly R1 and R2 (0.9328 and 0.9369) and at the moment the rate is oscillating just below the monthly R1 at 0.9412. Yesterday the pair even set a seven-month high at 0.9461; although we do not see the pair advancing beyond it. There may be some attempts to move higher, but the rallies should be stopped by the major level at 0.95.
Traders' Sentiment
At the moment of writing 63% of the SWFX market participants are expecting Australia's currency to lose value against the U.S. peer. In the meantime, the share of orders to enter the market with a buy trade edged up to 58%.
© Dukascopy Bank SA