AUD/USD touches weekly PP at 0.9267

Through last week the pair traded between 0.92 and 0.93, today this sideways trend is continuing. Earlier today AUD/USD dropped below weekly PP at 0.9267 and it is trading just above 0.9250 at the moment of writing. It is possible that the pair will tumble below 0.92; although, at first it has to break weekly S1 at 0.9227. If it weakens below 0.92 it could encourage traders to sell and that could lead to further decline.

 

An overwhelming majority (71%) of the traders believe that the Aussie is going to fall lower and lose value relative to the greenback. Concerning the orders placed 100 pips from the spot, they are little changed as of now there are 66% set to buy.