AUD/USD climbs higher for the second day

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"While the fall in employment in September is unlikely to significantly alter the RBA's view of the economy, we think that a sustained weakening in the labor market will contribute to the RBA cutting interest rates from 2.0% now to 1.5% next year." 
- Capital Economics (based on WBP Online) 

Pair's Outlook 
The Aussie behaved in accordance with expectations, rebounding after Tuesday's decline and stabilising at the 0.73 major level. Technical studies retain their bullish signals, suggesting the Antipodean currency is poised for another rally, which could negate this week's losses. However, the 100-day SMA is limiting the upside volatility for now, but the AUD/USD has the potential to reach the 0.74 psychological level, where it coincides with the Bollinger band. Consequently, the Aussie can reach a fresh eight-week high.

Traders' Sentiment
Exactly three quarters of traders are long the Aussie today, compared to 73% on Wednesday. The number of orders to acquire the Australian currency also increased, from 23 to 41%.
© Dukascopy Bank SA
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