"A convincing break of the .7400 level will send Aussie longs running for the exit and could add more fuel to the downside momentum."
— Market Pulse (based on Investing.com)
Pair's outlook
The Aussie plummeted tremendously by 113 pips, following the Fed's statement yesterday that boosted the Greenback. The pair closed below the lower Bollinger band and continues to move downwards in trading session, as well. Trading outside this band may mitigate some downside risks, leaving the Aussie in the range between the weekly and monthly S1s. As expected, the broadening wedge pattern was breached to the downside, increasing bearish predictions. It is very unlikely that the pair reverses its direction today. However, the Aussie is still close to being oversold, thus encouraging bulls to open long positions.
Traders' sentiment
Market sentiment has improved slightly, as 55% of traders are holding long positions. Nevertheless, 54% of pending orders are to sell the Aussie.
| Sentiment | Today | Yesterday | 5 days ago | |
| Positions | 10% | 6% | -2% | |
| Orders | -8% | 10% | 4% | |
| Indicator | 1D | 1W | 1MN | |
| MACD (12; 26; 9) | Sell | Buy | Sell | |
| RSI (14) | Neutral | Neutral | Neutral | |
| Stochastic (5; 3; 3) | Sell | Sell | Sell | |
| ADX (14) | Neutral | Neutral | Neutral | |
| CCI (14) | Buy | Buy | Neutral | |
| AROON (14) | Buy | Buy | Buy | |
| Alligator (13; 8; 5) | Sell | Neutral | Neutral | |
| SAR (0.02; 0.2) | Sell | Sell | Buy | |
| Aggregate | ↘ | → | → | |