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- Commerzbank (based on Business Recorder)
Pair's Outlook
The AUD/USD currency pair decline towards the second support area on Tuesday, amid the RBA Meeting Minutes stating that more easing possible. Although the Aussie was able to retain its position above 0.75 dollars, this level risks being breached today, due to the Greenback being supported by Fed rate hike expectations. The role of the immediate support is taken by the 100-day SMA at 0.7488, while the second cluster rests only around 0.7435. However, technical studies keep giving bullish signals, suggesting that the pair could still recover from its daily low and climb above 0.7520—where the weekly S1 coincides with the 20-day SMA.
Traders' Sentiment
Bearish traders' sentiment returned to its Monday's level of 71% (previously 74%), while the number of buy orders is unchanged at 51%.
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