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- ANZ (based on WBP Online)
Pair's Outlook
The Australian Dollar managed to rebound from the 0.77 support cluster and negate three-week losses. However, gains were capped by another cluster of important levels around 0.78, which pushed the ADU/USD back upon reaching 0.7850. Moreover, this resistance cluster is likely to cause the Aussie to bounce back again today, even though technical indicators keep giving mixed signs. The nearest support is located at 0.7770, namely the 100-day SMA, but it might lack the strength to stop the pair from falling deeper. As a result, the Australian Dollar should close trade between 0.7730 and 0.7760.
Traders' Sentiment
Bullish SWFX traders' sentiment returned to its Tuesday's level of 73%, whereas the number of buy orders declined from 67 to 58%.
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