AUD/USD contained by 0.8895/45

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"The Aussie is more likely to fall. China's growth outlook is posing a risk to countries like Australia that rely on trade with the nation."
- Tokai Tokyo Research Center (based on Bloomberg)

Pair's Outlook

As it turned out in the end, the bullish impetus AUD/USD exhibited yesterday proved to be unable to pierce through the resistance created by the August low and the weekly pivot point. Consequently, the Aussie is likely to move in accordance with the technical studies, a substantial majority of which are suggesting a decline in the short and long term.

Traders' Sentiment

Even though the Australian Dollar failed to keep the bullish momentum, an absolute majority of positions opened on AUD/USD are long, namely 73% of them (74% yesterday). Meanwhile, the amounts of buy (52.5%) and sell (47.5%) orders are now nearly equal.
© Dukascopy Bank SA
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