© Dukascopy Bank SA
- CMC Markets (based on The Australian)
Pair's Outlook
The Aussie sets the third big gain this week, as the price appreciates towards the Bollinger band at 1.0509. The pair demonstrates strong bullish sentiments and continues to advance after a correction till the 100-day SMA at 1.0403. Today AUD/USD overcame the weekly R1 level at 1.0473 and even steps higher. Technical indicators remain mixed, as only the daily shows a buy signal. Also, according to the RSI, the pair is still not overbought, as the index has a value of 64.
Traders' Sentiment
The Australian Dollar losses the ground, as traders short the currency sharply. The buy side contracted by 10% since yesterday and currently is amounted to 28%. Placed order segment is skewed to the bullish side with 74% orders ready to buy the Aussie.
© Dukascopy Bank SA