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- Royal Bank of Scotland Group (based on Bloomberg)
Pair's Outlook
The Australian currency prolonged its yesterday's decline by falling below the weekly S1 and 100-day SMA at 0.9350. Moreover, the pair is trading very close to July's low at 0.9328, if the pair's bears drags it beneath this level then it is likely that the 0.93 mark will be reached. The technical indicators does not give any clear outlook as the weekly studies are slightly bullish but the monthly readings are slightly bearish.
Traders' Sentiment
More traders than yesterday consider the dip in AUD/USD to be overstretched. However, the share of long positions are still in distinct minority with 36% of the traders being bullish. Meanwhile, the pending orders in 100 pips range remained unchanged.
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