© Dukascopy Bank SA
- Rabobank (based on WBP Online)
Pair's Outlook
Although the AUD/USD reached the support cluster around 0.7340, the pair was then pushed back up. Ultimately, the Australian Dollar remained relatively unchanged against the Greenback, adding only three pips over the day. Nonetheless, the Aussie is still expected to decline today, as the RBA Minutes had no effect in boosting the Antipodean currency. The immediate support is retains its position around 0.7340, represented by the weekly PP and 20-day SMA. Furthermore, the daily technical studies keep showing mixed signs, suggesting the pair could still recover some losses and remain flat.
Traders' Sentiment
Although not as strong as yesterday, but traders' sentiment remains bullish at 72%. The share of buy orders inched up from 41 to 48%.
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