© Dukascopy Bank SA
- Royal Bank of Canada (based on Bloomberg)
Pair's Outlook
AUD/USD continues its trip north, as the price skyrockets for a second straight day and has already reached the upper Bollinger band at 1.0348. Overhead lies area formed by the combination of three major SMAs at 1.0373/1.0406. Since these levels are the major indicators, signalling about a trend's direction, they will raise a lot of difficulties for bulls to overcome the particular resistances.
Traders' Sentiment
Seems that SWFX market participants are unaffected by the current rally, as the positions' distribution remains exactly the same as yesterday, 46% bullish and 54% bearish. Waiting orders market is oriented for a potential trend reverse, as 58% of orders placed to be opened as buy and 32% as short positions.
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