© Dukascopy Bank SA
- NAB (based on Bloomberg)
Pair's Outlook
Following a breach of the monthly R1 AUD/USD seems to have nearly exhausted the bullish momentum that took the price away from the Aug 5 low at 0.8847 and drove it to the 100-day SMA. Nevertheless, the pair may extend the rally up to the resistance line at 0.9321 before being sold off, as suggested by the weekly technical indicators.
Traders' Sentiment
Despite the three-percentage-point decline in the portion of the bullish SWFX marketplace participants, an overwhelming majority of traders, specifically 71% of them, are still anticipating bullish movement of the currency pair, whereas bears stay in a distinct minority.
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