© Dukascopy Bank SA
- Westpac (based on the Australian)
Pair's Outlook
The AUD/USD currency pair has lost some of its value this week, as the Aussie cannot find a bullish impetus and it has even fallen below the psychological level at 0.90. Currently, the pair is hovering below March low at 0.8996; however, the pair's bulls has not been able to form any noteworthy attack towards the 0.90 level. Since the daily and monthly technical indicators are to the downside a further decline towards March low and weekly S1 might be anticipated.
Traders' Sentiment
Current retreat is apparently encouraging some of the traders; as compared to the yesterday's readings, the share of long positions increased from 63% to 65%. In the meantime, the share of sell orders grew from 50% up to 62%.
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