© Dukascopy Bank SA
- UOB (based on FXStreet)
Pair's Outlook
Mostly positive US fundamentals caused the AUD/USD currency pair to fall towards the nearest support area yesterday, where the Bollinger band coincides with the monthly S1. The same area keeps providing immediate support today, located around the 1.7450 level. Although today's Australian Retail Sales and Trade Balance figures surprised to the upside, the impetus provided might still be insufficient for the pair to end the day in the green zone. Meanwhile, technical indicators imply that trade could remain relatively flat, as the supply area, represented by the weekly S1 and the 55-day SMA, around 0.7520 is too strong to penetrate.
Traders' Sentiment
Today three quarters (75%) of all open positions are long (previously 69%). All pending orders are equally divided between buy and sell ones.
© Dukascopy Bank SA