© Dukascopy Bank SA
- BNP Paribas (based on WBP Online)
Pair's Outlook
The Australian Dollar appreciated against the Greenback on Tuesday. The AUD/USD pair pierced through the immediate resistance and even tested the 0.80 psychological level, but settled at 0.7990. The rally is likely to continue today, as technical indicators retain distinctly bullish signs, bolstering the positive bias. The closest resistance is located around 0.8050, represented by the weekly R1 and Bollinger band; however, a hike towards 0.81 is also possible if the US fundamentals show poor figures.
Traders' Sentiment
The share of longs returned to its Monday's level of 71%. At the same time, the portion of orders to acquire the Aussie decreased. Now 39% of commands are to purchase the Australian Dollar.
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