© Dukascopy Bank SA
"The market is broadly trading with tapering fears in mind."
- Citi (based on Reuters)
Pair's Outlook
AUD/USD continues to move in accordance with the weekly technical studies, namely south, while indicators on the different time-frames remain silent. The weekly and monthly pivot points have already been broken, leaving the monthly S1 at 0.8811 exposed. Below this support is a psychological level at 0.87, a medium-term target.
Traders' Sentiment
Just as in the sentiment of SWFX marketplace participants towards EUR/JPY, there has been no change in the distribution between the bulls (71%) and bears (29%) for AUD/USD, even though the Australian Dollar is continuously getting cheaper. Concerning the orders, merely 27% of them are to buy the Aussie.
© Dukascopy Bank SA