Note: This section contains information in English only."This pair [AUD/USD] is expected to remain under pressure unless it can reclaim the strong 0.7530 resistance."
- UOB (based on FXStreet)
Pair's Outlook
[ANNOUNCE]The Aussie experienced another 30-pip decline against the US Dollar on Friday, unable to retake the 0.75 mark.[/ANNOUNCE] Nevertheless, the exchange rate keeps gravitating to the 0.75 level, thus, the AUD/USD currency pair is likely to edge higher today. There are two obstacles in the form of one resistance cluster on the Aussie's path. First of all, the 100-day SMA, which could prevent the Antipodean currency from reaching the 0.75 psychological level. Second, the weekly PP and the 20-day SMA, where supply might spark more AUD-selling and push the pair back under 0.75.
Traders' Sentiment
Bears remain in control, as 70% of traders hold long positions today, barely changed since Friday (71%). At the same time, the portion of orders to sell the Australian Dollar inched up from 49 to 58%.
Mon, 25 Jul 2016 13:59:03 GMT
Source: Dukascopy Bank SA
- UOB (based on FXStreet)
Pair's Outlook
[ANNOUNCE]The Aussie experienced another 30-pip decline against the US Dollar on Friday, unable to retake the 0.75 mark.[/ANNOUNCE] Nevertheless, the exchange rate keeps gravitating to the 0.75 level, thus, the AUD/USD currency pair is likely to edge higher today. There are two obstacles in the form of one resistance cluster on the Aussie's path. First of all, the 100-day SMA, which could prevent the Antipodean currency from reaching the 0.75 psychological level. Second, the weekly PP and the 20-day SMA, where supply might spark more AUD-selling and push the pair back under 0.75.
Traders' Sentiment
Bears remain in control, as 70% of traders hold long positions today, barely changed since Friday (71%). At the same time, the portion of orders to sell the Australian Dollar inched up from 49 to 58%.