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- Joseph Capurso, Commonwealth Bank of Australia (based on Bloomberg)
Pair's Outlook
AUD/USD continues its struggle with resistance at 1.0624/1.0575, but yet remains unsuccessful, being constantly sent away from it by presence of a strong selling pressure. For now a support level at 1.0534/33 is able to keep spurring attempts of the pair to challenge 1.0624/1.0575, but is likely to give in eventually, allowing for a lower decline, down to 1.0469/39.
Traders' Sentiment
While there is an undoubted dominance of bears (73%) among traders who have an opened position on AUD/USD, the context is different looking at the ratio between buy and sell orders, being 61% to 39%, respectively. On a related note, the aussie is the least frequently (in 26% of cases) acquired currency in SWFX marketplace.
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