© Dukascopy Bank SA
- Australia & New Zealand Banking Group (based on Bloomberg)
Pair's Outlook
It seems that the Aussie has lost its strength before reaching this year's high (at 0.9462); however, it was trading near this level reaching the recent high at 0.9448. Now, even though the daily and weekly technicals are largely positive we do not expect the pair to appreciate. To our mind there is bigger possibility that the pair might trade sideways or to form a down-trend as the monthly technical indicators are suggesting.
Traders' Sentiment
The SWFX traders are getting less and less convinced that the greenback is going to fall relative to the Aussie. AUD/USD bears are in a distinct majority, as they take up 74% of the market, and this is a significant advantage over the bulls (26%).
© Dukascopy Bank SA