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- AMP Capital (based on Business Recorder)
Pair's Outlook
The Fed rate hike had low impact on the market yesterday, thus, the AUD/USD climbed above the 0.72 major level and met resistance in face of the weekly PP at 0.7232. The same resistance level is also bolstered by the 20-day SMA, which together should help the Greenback to outperform the Aussie. The immediate support lies around 0.7185, represented by the monthly PP, the 55 and 100-day SMAs, but another key level rests at 0.7160, as the Australian Currency was unable to edge below this area since mid-November.
Traders' Sentiment
Market sentiment strengthened again today, with 74% of all positions being long (previously 71%). The number of sell orders barely changed, as they take up 67% of the market, down from 69%.
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