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- Danske Bank (based on MarketWatch)
Pair's Outlook
A cluster of resistance levels at 0.9525/08 successfully withstood AUD/USD's assault, sending the currency pair towards the weekly R1 at 0.9420. Still, stabilisation of the price once its enters the area between 0.9379 and 0.9321 and a subsequent attempt to re-challenge the monthly R3 remains a possibility—many of the daily technical indicators are currently giving ‘buy' signals.
Traders' Sentiment
The sentiment of the market towards AUD/USD (66% of positions are long) reminds us of the fact that the Australian Dollar at the moment is the most popular currency among the majors—the Aussie was purchased in 72% of trades throughout its crosses. The distribution between the buy and sell orders on the pair is 67% and 33% accordingly.
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