AUD/USD retreats away from 1.0343/36

As expected, AUD/USD proved to be unable to gain a foothold above 1.0343/36 and is declining. En route to 1.0258/30 none of the important supports will obstruct the awaited dip, thus the move is likely to be swift. There the pair will encounter a strong demand area, which should be eventually eroded, paving the way towards the medium-term goal at 1.0141/12.

Along with the kiwi, the Aussie is one of the least popular currency pairs, bought on average in 38% of cases in its crosses. The situation is the same in AUD/USD currency pair, where the distribution between long and short positions is 38% to 62% accordingly. As for the orders, 41% of them are to buy the Australian Dollar and 59% are to sell it against its U.S. counterpart.