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- IG Australia (based on Bloomberg)
Pair's Outlook
The Australian Dollar just cannot recover, as the currency continues to fall against the U.S. counterpart. The pair touched even the monthly S3 today; however, it reversed some of the losses. Nonetheless, AUD/USD has lost more than 250 pips this week, which is a significant drop for just three trading days. Therefore, we expect the decline to slow-down before reaching the major level at 0.91, level not touched since the middle of March.
Traders' Sentiment
With this substantial retreat the traders' sentiment has changed from moderately bearish (57%) on Monday to bullish (56%) as of today. In the meantime, the share of buy orders increased from 35% up to 47%.
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