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"The market has come back under […] pressure following an intense rally over parity […]. However, at this point we are not yet ready to call for an immediate bearish resumption, and would look for any additional setbacks to be well supported above 0.9900 in favour of additional upside."
- J. Kruger, DailyFX (based on FXStreet)
Pair's Outlook
AUD/USD added to gains compared to yesterday as the pair bounced from the 55-day simple moving average. Thus, if bullish momentum intensifies, 1.0118 (61.80% Fibo) will be the first target among investors. A breakout here would expose next resistance levels at 1.0179 (R1 Weekly) and 1.0215/20 (100-da SMA; R1 Monthly).
Traders' Sentiment
The difference between the quantities of bulls and bears in the market has narrowed considerably. Consequently, the portion of long positions has fallen to 52%, while the share of short positions increased up to 48%. As for the orders, only 33% of them are to acquire the Aussie dollar and 67% are to sell the Australian dollar against the Greenback.
© Dukascopy Bank SA