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– UBS (based on Business Recorder)
Pair's Outlook
As was anticipated, the Australian Dollar underwent a correction on Wednesday, sliding back down towards the 0.75 level, where the 100-day SMA coincides with the 200-day one. Support around this mark remains strong and is also reinforced by the ascending channel's lower trend-line, thus, the AUD/USD pair is likely to appreciate once again. Yesterday's losses could be fully erased, as the nearest resistance is located only at 0.7584. Technical indicators are also in favour of the positive outcome, as they retain bullish signals in the daily timeframe.
Traders' Sentiment
Bears grew stronger in the last 24 hours, with 60% of all open positions now being short, compared to 51% yesterday. All pending orders are now equally divided between the buy and the sell ones.
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