AUD/USD gaining upward momentum

Note: This section contains information in English only.
Source: Dukascopy Bank SA
© Dukascopy Bank SA
"Some of the adjustments we have been seeing, as awkward as they might seem, are actually strengthening resilience to possible future shocks."
- Glenn Stevens, governor of RBA (based on CQ News)

Pair's Outlook
The upward trend of AUD/USD has been continuing for two months now, forming an upward channel. We are likely to see lots of bullish potential today with the pair en-route to 1.0376 (200-day SMA) and 1.0390 (upper Bollinger band) in near term. At such pace, the pair is likely to reach 1.0856 (2012 high) around September 10.

Traders' Sentiment
Due to the pair's continuous upward movement, 71% of traders believe in pair's further augmentation, while 29% of traders expect AUD/USD to break channel's support line and slider lower. In the latter case, pair might soon test 1.0134 (100-day SMA).

© Dukascopy Bank SA
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Wed, 25 Jul 2012 14:01:12 GMT

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