© Dukascopy Bank SA
- RBS (based on the Australian)
Pair's Outlook
A short two-day recovery has been completely negated today, as the price came back to the support at 0.9577/37, 2012 low. Considering Aussie's behaviour for the past two months, the currency is likely to lose even more value, but we see a substantial deceleration of the decline in presence of the last year's lowest level, although daily and weekly indicators are still bearish in aggregate.
Traders' Sentiment
Bulls continue to take up the largest portion of traders in AUD/USD, believing that the pair has bottomed out and is going to reverse the fast-paced downward tendency its has been following since the beginning of May. As for the orders, there is a much less pronounced difference between the buy (47%) and sell (53%) ones.
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