Note: This section contains information in English only."As the RBA noted this week, Australia's terms of trade have improved, with our commodity price basket at highs since Dec 2014 (when AUD was 0.83). Low risk of further RBA easing should help limit AUD downside."
– Westpac (based on FXStreet)
Pair's Outlook
[ANNOUNCE]Wednesday ended with the AUD/USD currency pair remaining relatively flat, as poor ADP data helped the Aussie erase all intraday losses.[/ANNOUNCE] Bears appear to have taken over the market, pushing the Antipodean currency lower during the Asian session today, despite technical indicators retaining bullish signals. The given pair is unlikely to recover today, due to lack of impetus. Consequently, the only hope for the Aussie is the immediate demand area, located around 0.76, where losses could be limited. A failure to prevent the Australian Dollar from falling below this area would imply an eventual retest of the three nine-month up-trend, currently resting around 0.75.
Traders' Sentiment
Bears remain in the majority, taking up 65% of the market. Meanwhile, the portion of sell orders lost 20% points, having fallen to 56%.
Thu, 06 Oct 2016 13:24:03 GMT
Source: Dukascopy Bank SA
– Westpac (based on FXStreet)
Pair's Outlook
[ANNOUNCE]Wednesday ended with the AUD/USD currency pair remaining relatively flat, as poor ADP data helped the Aussie erase all intraday losses.[/ANNOUNCE] Bears appear to have taken over the market, pushing the Antipodean currency lower during the Asian session today, despite technical indicators retaining bullish signals. The given pair is unlikely to recover today, due to lack of impetus. Consequently, the only hope for the Aussie is the immediate demand area, located around 0.76, where losses could be limited. A failure to prevent the Australian Dollar from falling below this area would imply an eventual retest of the three nine-month up-trend, currently resting around 0.75.
Traders' Sentiment
Bears remain in the majority, taking up 65% of the market. Meanwhile, the portion of sell orders lost 20% points, having fallen to 56%.