© Dukascopy Bank SA
"The Aussie and kiwi are caught between ongoing fears of contagion, slower global growth and expectations of further quantitative policy measures abroad."
- Bloomberg
Pair's Outlook
The Aussie dollar slumps lower against the US dollar along with the 55-da simple moving average. If bearish correction deepens further, 0.9955 (S1 Weekly) is likely to become the first target. A breakout here would expose next support lines at 0.9826 (23.60% Fibo) and 0.9740 (Lower Bollinger band; S3 Weekly), respectively.
Traders' Sentiment
At the moment, the market sentiment remains neutral on AUD/USD as 51% of investors hold long positions (49% - the short ones). Regarding order distribution, 62% of investors anticipate a rally in the currency pair, while 38% of traders see a trend reversal in the middle-term.
© Dukascopy Bank SA