AUD/USD targets 0.9126

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The driver for the Federal Open Market Committee is the headline unemployment rate, which we continue to predict will result in a mere $5 billion reduction in the flow of security purchases at the December meeting."
- Miller Tabak & Co. (based on Bloomberg)

Pair's Outlook

Test of 0.8977/53 today resulted in a rally that has effortlessly pierced through the weekly S1 and is currently approaching the weekly pivot point at 0.9126. There the currency pair is expected to be capped, otherwise the Australian Dollar may be able to appreciate up to the 23.6% Fibonacci retracement level of the April-August move at 0.9255/34.

Traders' Sentiment

Compared to the previous figures, the share of the long positions has increased even more during the last 24 hours—now they constitute 75% of the market (73% yesterday). However, there is no difference between the amounts of buy and sell orders placed on AUD/USD.
© Dukascopy Bank SA
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