AUD/USD feels support from 100-day SMA

This month AUD/USD has already retreated more than 150 pips from 0.95 (2014 high). But an extension of a decline seems unlikely. The currency pair is now facing a number of tough supports, including 55 and 100-day SMAs. Still, most of the technical indicators, excluding the weekly ones, are giving ‘sell' signals, suggesting that neither the monthly S1 just beneath 0.93 nor the monthly S2 and 200-day SMA at 0.9150 are completely safe.

The SWFX traders' sentiment with respect to AUD/USD stays slightly positive, as 58% of positions are long. On the other hand, there is a large number of sell orders (73%) scattered 100 pips from the spot price.