AUD/USD drops back

AUD/USD is under bearish pressure today, as the price slides noticeably from the weekly pivot point at 0.9825 towards a recent low at 0.9710. In case the current movement transforms to serious depreciation, what is rather realistic, as capital leaves the Australian Dollar, the pair might try strength of the weekly S1 level and the Bollinger band at 0.9646. However, it also contains the risk of being suspended by a concern about a too rapid sell-off, thus opening a position should be very well considered.

Bullish traders keep their positions further, since the pair is around a one-year low. There are 73% of long positions opened in the market. Placed orders segment is more likely to reach an equilibrium soon, since 52% of orders are to sell.