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- Newedge (based on Reuters)
Pair's Outlook
While yesterday AUD/USD was distinctly bullish, today the currency pair lingers at its open price, being buoyed by the 100-day SMA. Technical indicators at the moment are mixed, suggesting no particular direction for the price, though we would assume the probability of a decline is higher than the chance of a rally, taking into account the strong resistances that lie overhead.
Traders' Sentiment
The bulls stay in a prominently dominant position in the market, although their percentage has notably decreased lately. Right now 68% of all the positions in AUD/USD are long, though in general in its currency pairs the Australian Dollar is bought in 74% of trades, making the Aussie the most popular major currency.
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