AUD/USD retreats from 1.0577/59

The upward impetus that was received by the AUD/USD currency pair yesterday was insufficient to throw the pair above 1.0577/59, exposing exhaustion of bulls. Thereby we are likely to see a leg down prior to a full-blown renewal of pressure exerted on this resistance. A trough is thus likely to appear near either 1.0439/07 (100-day SMA) or 1.0370/56 (200-day SMA).

The mood on the SWFX marketplace participants with respect to AUD/USD remains largely unchanged, as bears continue to take up 71% of the market, while bulls are in a distinct minority—29% of the market and the Australian Dollar is the least popular currency. There is also nothing new concerning distribution between buy and sell orders—61% to 39%, accordingly.