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- Mathias Cormann, Australian Finance Minister (based on Bloomberg)
Pair's Outlook
Although the AUD/USD was hurt from a fall in oil prices yesterday, the pair still managed to erase the intraday losses and remain relatively unchanged, as the US CPI data disappointed. The Aussie again faces the weekly PP at 0.6911, which also acts as the closest resistance, while the second level to limit the gains lies only at 0.6967. At the same time, the monthly S3 is the nearest support at 0.6838, but a decline seems doubtful, as the Antipodean currency appears to undergoing a corrective rally after last Friday's plunge.
Traders' Sentiment
Exactly three quarters (75%) of all open positions are long (previously 72%). The number of sell orders edged five percentage points lower. The commands now take up 62% of the market.
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