© Dukascopy Bank SA
- Westpac (based on the Australian)
Pair's Outlook
This week for most of the time AUD/USD is hovering around the monthly PP at 0.9369 and has failed to breach the weekly PP; 20-day SMA and major level at 0.9395/0.9400. The daily and monthly technical studies expect the pair to head south and for matter of fact we have the same opinion. Nonetheless, in the short run we see a appreciation closer to 0.94 level as possible scenario. In longer time horizon we expect the pair to weaken towards the 0.93 mark; although, the weekly S1 and 100-day SMA will not be easy to break.
Traders' Sentiment
The difference between the amounts of long (59%) and short (41%) positions has changed slightly since yesterday. In the meantime, the share of sell orders grew from 60% up to 76%.
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