Note: This section contains information in English only."The anticipated AUD strength exceeded our expectation by taking out the strong 0.7560 resistance to reach a high of 0.7574. The up-move appears incomplete and further extension to 0.7600 seems likely."
- UOB Group (based on FXStreet)
Pair's Outlook
[ANNOUNCE]Friday's strong US NFP figures were insufficient to outweigh the low unemployment rate, ultimately causing the AUD/USD currency pair to soar more than 80 pips.[/ANNOUNCE] The pair has been gradually recovering since the beginning of June and this trend is unlikely to be reversed even if setback in face of a decline occurs today. Moreover, technical indicators an in favour of a bullish scenario, implying that the Aussie could edge closer to the 0.76 mark, if not reconquer it. Meanwhile, the Bollinger band and the weekly R1 around 0.7620 represent immediate resistance, which is to prevent the Australian currency from rising too high against the US counterpart.
Traders' Sentiment
Exactly three quarters (75%) of traders are short the Aussie today, but the majority of all pending orders, namely 58%, are to buy the AUD.
Mon, 11 Jul 2016 13:31:10 GMT
Source: Dukascopy Bank SA
- UOB Group (based on FXStreet)
Pair's Outlook
[ANNOUNCE]Friday's strong US NFP figures were insufficient to outweigh the low unemployment rate, ultimately causing the AUD/USD currency pair to soar more than 80 pips.[/ANNOUNCE] The pair has been gradually recovering since the beginning of June and this trend is unlikely to be reversed even if setback in face of a decline occurs today. Moreover, technical indicators an in favour of a bullish scenario, implying that the Aussie could edge closer to the 0.76 mark, if not reconquer it. Meanwhile, the Bollinger band and the weekly R1 around 0.7620 represent immediate resistance, which is to prevent the Australian currency from rising too high against the US counterpart.
Traders' Sentiment
Exactly three quarters (75%) of traders are short the Aussie today, but the majority of all pending orders, namely 58%, are to buy the AUD.