© Dukascopy Bank SA
- Rabobank (based on CNBC)
Pair's Outlook
The Aussie remained relatively unchanged against the US Dollar on Monday, as the pair added only 11 pips. Consequently, the monthly S1 prevented the AUD/USD from edging higher and recovering from the fresh five-year low. The Australian Dollar is expected to extend its bullish momentum and attempt to retake the 0.70 major level, despite technical indicators retaining bearish signals. Nevertheless, the Antipodean currency remains under pressure, amid rising concerns over China's economy slowdown, which could still trigger a decline under 0.69.
Traders' Sentiment
Bullish traders' sentiment returned to its Friday's level of 71%, whereas the share of buy orders inched up from 31 to 32%.
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