© Dukascopy Bank SA
- Carl Riccadonna, a senior U.S. economist at Deutsche Bank Securities Inc. (based on Bloomberg)
Pair's Outlook
AUD/USD pair fluctuates in a channel bounded by two SMAs. The price has bounced to the weekly PP level at 1.0434 yesterday and reversed downwards. Recent down-side movement was stopped by the 100-day SMA at 1.0418 and now the price is very close to this level and most probably will retest it soon. The closest support level would be at 1.0373, where the 200-day SMA goes, and slightly lower at 1.0349, the weekly S1 level.
Traders' Sentiment
AUD/USD pair is rather bearish, since the majority of traders have opened short positions, thus 33% of opened positions are long and 67% are short. Pending orders segment is gently bullish with figures: 60% versus 40% of bulls and bears, respectively.
© Dukascopy Bank SA