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"Expectations for the EU summit seem low enough for the Australian dollar to suffer little or no collateral damage."
- Sean Callow, Westpac (based on WSJ)
Pair's Outlook
Bulls gain confidence on AUD/USD as the pair is floating near the initial resistance level at 1.0118 (61.80% Fibo). If the pair manages to pierce and hold this level, investors could expect the pair to edge higher Resistance 2 and Resistance 3 at 1.0179 (R1 Weekly) and 1.0215/20 (100-day SMA; R1 Monthly), respectively.
Traders' Sentiment
The gap between bullish and bearish positions has slightly widened since yesterday as long positions make up 57%, while the share of short positions is 43%. As for the orders positioning, only 53% of investors are going to sell the Aussie dollar against the dollar whereas 47% of investors are to buy the Australian dollar.
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