AUD/USD struggles at 0.9580

AUD/USD has already passed through 0.9534, but there is more supply at 0.9580 that is to obstruct price's further growth. Moreover, short-term technical indicators are bearish, therefore a risk of a consolidation or a correction is increased. On the other hand, proximity to a three-year low discourages investors to enter short positions, which is supportive of a surge.

The gap between the portions of the bulls (73%) and bears (27%) widened overnight, although it did not affect the overall attitude of the market regarding the Australian Dollar—currently one of the most favoured currencies in the SWFX marketplace. The percentage of orders to buy the Aussie also increased, up to 38%.