AUD/USD bulls try recovering from 3-day slide

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"A serious deterioration in international economic conditions would still see Australia with scope to use macroeconomic policy, if needed, as long as inflation did not become a concern, which would be unlikely in the scenario in question"
- Glenn Stevens, governor of RBA (based on WSJ)

Pair's Outlook
Aussie has started recovering after a three-day slide, and currently is moving towards the Upper Bollinger band at 1.0411. The pair is likely to test monthly R1 at 1.0470 in near-term. However, a slide to 200-day and 20-day SMA at 1.0289/44 might occur in case of new fundamental shocks.

Traders' Sentiment
The proportion of bullish traders on SWFX index has increased to 69% for AUD/USD, supported by the technical indicators. However 31% of traders believe in pair's depreciation, in line with the weekly aggregate-indicator outlook. As RSI indicator is deep in the neutral area, we are likely to see the sentiment balancing out in near-term.
© Dukascopy Bank SA
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