© Dukascopy Bank SA
- BNP Paribas (based on Reuters)
Pair's Outlook
The AUD/USD pair edged up yesterday, despite expectations. The Aussie extended its volatility down to the weekly PP during trading hours, while the ultimate outcome was still bullish. The monthly R1 failed to stop the rally and the Australian Dollar settled at 0.7865. Today we expect the pair to soar for the fifth time in a row, while technical studies are bolstering the bullish outcome. The 0.79 level is likely to be breached, while a rise towards the third resistance level is highly possible as well. Right now the pair was able to reach as high as 0.7970.
Traders' Sentiment
The share of bulls returned to its previous level of 66% (previously 67%). Meanwhile, the buy and sell order ration is now equal to one.
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