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- Citi (based on MarketWatch)
Pair's Outlook
Already sixth candle in a row is about to close green, as AUD/USD maintains its upward course despite the resistances that stand in the pair's way and despite the fact that daily and weekly indicators are bearish. The rally could go on further, through 0.9677 and 0.9757 up until 0.9843/25, where it most likely will be capped by May 21 high and the monthly pivot point.
Traders' Sentiment
After widening, the gap between the bulls and bears contracted once again, as the share of longs went down to 71% from 73%. Nevertheless, the Australian Dollar is still the most frequently acquired currency among its major rivals—in three out of four trades in its pairs.
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