© Dukascopy Bank SA
- Barclays (based on CNBC)
Pair's Outlook
Considering the fact that AUD/USD has just penetrated 0.9387/71, it would be reasonable to posit that the price is going to slide even deeper, aiming for 0.8568 in the medium term. The path towards the 2010 February low is highly unlikely to be straight, we may anticipate noticeable attenuation of the sell-off as soon the pair approaches 0.8971, the monthly S2 level.
Traders' Sentiment
A small portion of the bulls have left the market, being that their percentage dropped to 71%. Nevertheless, the advantage over bears is substantial. The same portion of Aussie-long positions are opened across all its pairs. On the other hand, there was a significant change in the distribution between the buy and sell orders, now they are 30% and 70% of the total amount accordingly.
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