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"The interest rate cycle in Australia is certainly dovish. If we close under 96.90 U.S. cents tonight, the Australian dollar can go down to 93.80."
- Nomura Holdings Inc. (based on Bloomberg)
Pair's Outlook
AUD/USD traded flat today as the latest US data showed the US labour market is still weak (8.2% act./8.1% est. unemployment
rate). If the pair fails to fall further, it could retrace to 0.9662 (November 2011 low; lower Bollinger band), a breakout of which would expose 0.9567 (S2 Weekly) and 0.9445 (Lower support level; 23.60% Fibo).
Traders' Sentiment
The stance on AUD/USD is neutral as equal portion of long and short trades are held by investors (50%/50%). At the same time ,
within 100 points from the current market price, investors are mainly bullish (58%).
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