© Dukascopy Bank SA
- UBS (based on CNBC)
Pair's Outlook
For the time being the monthly R1 is proving to be a notable obstacle for the currency pair, but is nonetheless likely to give in, allowing AUD/USD to challenge 0.8105/0.8080. Trading beyond the latter resistance area is not expected or should be limited to a short period of time, since overhead there is the 200-day SMA at 0.8154 and another formidable zone at 0.8200/0.8183.
Traders' Sentiment
The share of long positions on NZD/USD declined even further. Over the weekend the percentage of bulls contracted from 52% to 48%, but the sentiment stays neutral, since the difference between the amounts of proponents of the antipodal views remains negligible. The ratio between the buy and sell orders is 41% to 59% respectively.
© Dukascopy Bank SA