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- Pension Partners (based on MarketWatch)
Pair's Outlook
Apparently, traders over the weekend rethought their attitude towards the Aussie, as a result of which AUD/USD opened notably higher than its last week's close and is testing the monthly R2. Additional resistance is at 0.9429/20, but the daily technicals are still bullish, meaning it might not be enough to stop pair's ascension that now seems to carry the potential to extend up to 0.9525/08.
Traders' Sentiment
At the moment 67% of all the positions on AUD/USD are long. Even though we are used to seeing value above 70%, there is still an overwhelming proportion of bulls in the market. Speaking of the orders placed on the currency pair, 60% of them are to buy and 40% are to sell the Aussie.
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