AUD/USD pierced through resistances

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"If Australia's policy rate was as high as it used to be, investors would expect funds to flow to the Aussie from the greenback after the Federal Reserve refrained from tapering. But the Aussie no longer has the appeal of being a high-yielding asset."
- Brown Brothers Harriman & Co. (based on Bloomberg)

Pair's Outlook

Although previously AUD/USD was capped by the monthly R2, the resistance was unable to withstand the bullish pressure initiated yesterday and gave in. Accordingly, now it is the area at 0.9541/08 that should keep the rate contained, while the key resistance at 0.9744, where the 200-day SMA stands, is not expected to be tested any time soon.

Traders' Sentiment
Bullishness that has just been demonstrated by the Australian Dollar seems to have encouraged some of the market participants. The portion of bulls increased by four percentage points and now amounts to 65%, though the most recent tendency showed weakening of interest in betting on the Aussie's appreciation.
© Dukascopy Bank SA
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