"The Aussie had come under pressure this year as the presumed rise in US interest rates would erode completely its long-held yield advantage over its US cousin."
— David Cottle, Analyst (based on Daily FX)
Pair's outlook
The Aussie was not able to make good use of the weakened Greenback, as the pair is currently trading in the red area and targeting the nearest support formed by the monthly S1 at 0.7407. It is not expected that a close may occur below the given level, as intraday signals suggest that the downside momentum may allay. The upside limit in this trading session might be around the 0.7415/20 mark. The weekly R1 at 0.7433 has provided strong resistance on several occasions; nevertheless, this level should be breached in the nearest time just to reach the next important level of resistance, that is, the upper channel boundary and the 20-day SMA circa 0.7450/53.
Traders' sentiment
Market sentiment is bullish, as 61% of open positions are long. In addition, 51% of pending orders are to buy the Aussie.
| Sentiment | Today | Yesterday | 5 days ago | |
| Positions | 22% | 2% | 4% | |
| Orders | 2% | 6% | 16% | |
| Indicator | 1D | 1W | 1MN | |
| MACD (12; 26; 9) | Sell | Sell | Sell | |
| RSI (14) | Neutral | Neutral | Neutral | |
| Stochastic (5; 3; 3) | Sell | Sell | Sell | |
| ADX (14) | Neutral | Neutral | Neutral | |
| CCI (14) | Neutral | Buy | Neutral | |
| AROON (14) | Buy | Buy | Buy | |
| Alligator (13; 8; 5) | Sell | Sell | Neutral | |
| SAR (0.02; 0.2) | Buy | Sell | Buy | |
| Aggregate | → | ↘ | → | |