© Dukascopy Bank SA
- Rochford Capital (based on Bloomberg)
Pair's Outlook
The Aussie was very close from setting a new low this year today as it traded just 4 pips away form the lowest level at 0.8643. However, this decline gave the pair the necessary bullish impetus to rally higher. We expect the pair to hover around the current trading levels, namely around the 0.87 level, before sliding lower once again. Even though, it is not set in stone that AUD/USD will decline, but this looks like the most likely scenario for the time being.
Traders' Sentiment
The portion of bulls lost three percentage points, but still an overwhelming majority of traders expect the Aussie to rebound relative to the buck, specifically 72% of them. In the meantime, the share of buy orders slid from 63% down to 53%.
© Dukascopy Bank SA