© Dukascopy Bank SA
- Royal Bank of Scotland (based on the Australian)
Pair's Outlook
The Aussie has reversed almost all of its yesterday's losses relative to the Greenback and it is trading below the weekly PP at 0.9335. The pair has bounced from the 0.93 mark already for several times, indicating that the pair's bulls will not give in easy. Also, the daily and weekly technical studies are neutral, thus suggesting that a sideways movement is likely. To remain in this short-term sideways trend AUD/USD has to hover in range from the 0.93 level up to the weekly PP at 0.9335.
Traders' Sentiment
The portion of bulls added three percentage points and by doing that increased its overweight over bears, at the moment 55% of the traders are long the Australian Dollar.
© Dukascopy Bank SA