© Dukascopy Bank SA
- Barclays Plc (based on Bloomberg)
Pair's Outlook
The rally AUD/USD commenced last week has encountered a strong resistance zone at 1.0343/36, which did not allow for a rise up to the 200-day SMA that in turn is standing near 1.0387 at the moment. Since the bullish correction is unlikely to extend any higher and the near-term studies point to the downside, we may anticipate continuation of the trend started on Jan 23 until 1.0141/12 is reached.
Traders' Sentiment
The difference between the amounts of long (44%) and short (56%) positions has slightly narrowed and the sentiment towards AUD/USD has thus become even less negative. As for the orders, 43% of them are to acquire the Aussie and the rest, 57%, are to sell it against the U.S. Dollar.
© Dukascopy Bank SA