© Dukascopy Bank SA
"Economic conditions are weak compared to the heyday of the carry trade. What's clearly different compared to then is that the global economy now seems to be headed downwards."
- Sumitomo Mitsui Banking Corporation (based on CNBC)
Pair's Outlook
The Aussie dollar is moving higher against the US dollar and at the moment the pair is floating around 38.20% Fibo level at 1.0400. In case bullish momentum strengthens further, investors might encounter the second and third resistance levels at 1.0490 (R3 Weekly) and 1.0574 (23.60% Fibo), respectively.
Traders' Sentiment
The decisive majority of investors (73%) stick to a bearish outlook over AUD/USD while 27% of traders expect the pair to move south in the short term. The positioning of orders reflects that 55% of market participants keep bullish stance on the Aussie Dollar-US Dollar currency pair while 45% of currency traders anticipate the pair to eventually fall.
© Dukascopy Bank SA