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- Commonwealth Bank (based on the Australian)
Pair's Outlook
After yesterday's dip to the lowest level (0.8481) this year this far, AUD/USD rebounded mildly and now is attacking the weekly S1 at 0.8562. However, the lack of positive technical indicators could mean that the pair is going for a decline once again. Again, if the monthly S2 breaks then it is almost certain that we will see new low. However, there is a high possibility that the AUD/USD cross will not make any major moves in the near term.
Traders' Sentiment
The traders' sentiment has slipped 5 percentage points; however, it still is strongly bullish, with 70% of the market participants having opened long positions. In the meantime, the share of sell orders grew from 52% to 53%.
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