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- Rabobank International (based on Bloomberg)
Pair's Outlook
The AUD/USD opened this week with a gap by sliding lower, to 0.786 from 0.790 previously. However, the Aussie found its buyers as the pair went higher during the day, touching the hourly Bollinger band at 0.793. On the upside, the closest resistance level is currently the monthly S1 at 0.799. On the contrary, the support level is the monthly S2 at 0.781.
Traders' Sentiment
The 50– pip pending orders are set on the bearish side mostly, since only 18.75% of traders hold longs. Meanwhile, the 100– pip orders have the same bearish sentiment and about 80% of traders would want to sell the pair.
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