© Dukascopy Bank SA
- Bank of Tokyo-Mitsubishi UFJ (based on Bloomberg)
Pair's Outlook
The Australian currency dropped rather significantly after yesterday breaching the monthly PP at 0.9362. At the moment the pair is fluctuating in range from the weekly S1 at 0.9252 to major level at 0.93. In case AUD/USD closes below the 0.93 mark then most likely the down-trend will remain in effect. The daily and monthly technical studies are pointing to the south, thus we might see a decline towards the monthly S1 at 0.9219.
Traders' Sentiment
The difference between the amounts of long (52%) and short (48%) positions remains negligible, meaning the sentiment is still very much neutral. The gap between the buy (59%) and sell (41%) orders placed 100 pips from the spot is more substantial.
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