© Dukascopy Bank SA
- FXCM (based on the Australian)
Pair's Outlook
AUD/USD has been on a sharp down-trend since 8th of September. Moreover, it tested the trading levels below the 0.87 mark; although, it did not consolidate at these levels. In the short term a repeated dip below the 0.87 level could be possible, as there is a strong bearish momentum at the moment. The daily technical indicators are also pointing to the south; therefore, making the bearish short-term scenario even more likely.
Traders' Sentiment
The sentiment towards AUD/USD continues to surge, as of today already 66% of the SWFX market participants think that the Aussie is undervalued against the U.S counterpart. In the meantime, the share of sell orders jumped from 58% up to 80%.
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