AUD/USD probes demand at 0.8660

The Australian currency continues to sink, as it was unable to violate a falling resistance line earlier this week. However, being that the price has just reached the Jan low, there is a good possibility the bulls will be able to postpone the decline by driving AUD/USD back to 0.87. But eventually the demand at 0.8660 should give in, which in turn should lead to a dip down to 0.8540—this year's lowest trading level so far.

Most of the SWFX market participants are optimistic towards the bullish prospects of the Australian Dollar against the Greenback—as many as 70% of open positions are long, leaving the bears in a distinct minority with only 30%.