© Dukascopy Bank SA
- UBS (based on the Australian)
Pair's Outlook
The Australian Dollar seems stuck between the monthly and weekly PPs at 0.9369/95. At the moment, the pair cannot find any strong driver that helped breaching the major level at 0.94 that is holding AUD/USD back. At the same time the Aussie is well supported by monthly PP at 0.9374; therefore, a sideways trend is likely. Nonetheless, we are bearish on the pair and we expect it to decline towards the weekly S1 and 100-day SMA at 0.9330/26.
Traders' Sentiment
Despite the pair's lack of movement the sentiment has changed since last trading day. At the moment of writing the majority (60%) of traders are bullish. The distribution between the buy and sell orders is wider—35% and 65% respectively.
© Dukascopy Bank SA