© Dukascopy Bank SA
- UBS (based on Bloomberg)
Pair's Outlook
Apparently, AUD/USD is not in a hurry to decline, as it remains contained by the August low from above and by the monthly S1 level from below. Still, given that the majority of weekly and monthly time-frames are bearish and the key support at 0.8845 has just been breached, there is a high probability the sell-off will persist in the long-term perspective.
Traders' Sentiment
Considering that the distribution between the buy and sell orders completely changed, yesterday AUD/USD left the demand zone and is currently entering a region characterized by a high density of sell orders (63%). Meanwhile, most (71%) of the active traders are proponents of a rally.
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