© Dukascopy Bank SA
- OANDA (based on the Australian)
Pair's Outlook
The Aussie has slid today, after the rebound on Friday, when the pair breached the 0.87 level for the moment. For now the most reliable support level is the weekly S1 at 0.8562, which was met on Thursday. The technical studies are mixed; however, many of them point sideways, which could mean that the pair continues to hover around the current levels. That is also our outlook on the pair, that it will move sideways, with short-term dips and climbs.
Traders' Sentiment
There are relatively more bullish market participants than yesterday, the overall sentiment towards AUD/USD is distinctly positive—more than 70% of positions are long. As for the orders, 53% are to purchase the Aussie against the Greenback.
© Dukascopy Bank SA