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"The rating agency has warned Australia. If the country does not get its deficit under control, it may be downgraded."
- Jyske Bank (based on The Economy News)
Pair's Outlook
After consecutive quite volatile, but overall bearish sessions, pair seems to be calming down as we are observing marginal gains. However, lack of close proximity strong support/resistance levels most likely will lead to further volatile sessions, which should remain at similar ranges for the time being, but 1.02 is likely to be tested in the medium term.
Traders' Sentiment
After a sharp decline in the amount of bets on a dip opened on AUD/USD yesterday, bears have partially restored their 73% dominance in the market, but are still 3% short of it. At the same time there are no notable changes observed with the pending orders, 58% of which are currently placed to acquire the Australian Dollar against the greenback.
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