© Dukascopy Bank SA
- National Australia Bank (based on The Australian)
Pair's Outlook
Neither a yesterday's 40-pip spike through the resistance at 0.9126 nor a today's dip down to 0.9049 were able to help AUD/USD escape the range created by two weekly pivots. Still, the overall outlook remains bearish with respect to the pair (as long as the key resistance at 0.9321/07 stays intact), meaning that any rally in the short-term is likely to be short-lived.
Traders' Sentiment
An absolute majority of SWFX traders deem the current down-trend as nearing its end—71% of them are long the Aussie versus the U.S. Dollar. As for the orders placed on the pair, 39% are to enter the market with buy trades and 61% are to enter it with sell trades.
© Dukascopy Bank SA