AUD/USD's surge stalled at 0.9312

AUD/USD has already attempted to surpass the monthly R2 at 0.9379 twice since the beginning of this week, but the pair remains unsuccessful, failing to decouple from the support level at 0.9321. The daily technical indicators at the moment are strongly bullish, suggesting the upward impetus is not yet exhausted; on the other hand, in the end the up-swing is likely to prove to be short lived, considering the longer-term studies, their the signals are much less definite.

While the abundance of bulls among AUD/USD traders remains a fact (62% of the total amount), there is a growing proportion of those viewing the pair as rapidly nearing its top. At the same time the share of buy orders is also increasing, it added four percentage points and currently is at 64%.