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- Morgan Stanley (based on Bloomberg)
Pair's Outlook
Even though it seemed that the Aussie might recover against the Greenback at the beginning of the last week that did not happen, as the pair declined on Friday. However, today AUD/USD has managed to recover above the 0.87 mark, after reaching the lowest level in four years on already previously mentioned Friday. The vast majority of the technical studies are pointing downwards, suggesting that the currency pair will decline even lower.
Traders' Sentiment
More and more traders consider the decline in AUD/USD to be overstretched. Accordingly, the share of long positions grew from 72% up to 74%. At the same time the gap between the buy (59%) and sell (41%) orders is narrowing slightly.
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