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"We have seen some long risk positions built up on the back of expectations central banks in general will do more. There's scope for disappointment on that front although we're more likely to see it in the Aussie and Canadian dollar rather than the euro."
- Michael Sneyd, BNP Paribas (based on Reuters)
Pair's Outlook
Bulls continue adding to gains on AUD/USD and right now the currency pair is floating around recent high at 1.0574 (23.60% Fibo. A breakout here would expose the second and third resistance levels at 1.0629 (Upper Bollinger band) and 1.0668 (R2 Weekly), respectively.
Traders' Sentiment
Disposition of long and short positions on AUD/USD has slightly changed since yesterday as 63% of investors keep long positions while 37% of traders are short on the pair. Presently, the vast majority of market participants (81%) expect the Aussie Dollar to reverse against the US dollar and move south.
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