© Dukascopy Bank SA
- CBA (based on Bloomberg)
Pair's Outlook
The rally triggered by a re-test of the down-trend line has been shallow so far, the price is slowly grinding north. If AUD/USD preserves the upward direction, the first resistance it is going to hit is the upper Bollinger band that is currently standing at 0.9285. Overhead the most likely areas of supply are at 0.9348/29 and, more importantly, at 0.9387/75, created by the former low.
Traders' Sentiment
The bulls continue to hold an absolute majority of the positions opened in AUD/USD, namely 74% of them, thus reflecting ubiquitous and overwhelming popularity of the Australian Dollar in the SWFX marketplace, being bought in 72% of trades concerning its crosses.
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