© Dukascopy Bank SA
- Commonwealth Bank (based on Bloomberg)
Pair's Outlook
Today has been calm for the AUD/USD traders', as the Aussie has dipped just slightly and it still is supported by the monthly S2 and weekly S1 at 0.8280/42. And it goes even further, as the pair has reached the lowest trading level this year for a fifth straight day. In spite of the Aussie's underperformance the pair's technical studies remain more to the downside. We expect the pair to start consolidating near/around the 0.80 level.
Traders' Sentiment
The traders' sentiment with respect to AUD/USD stays explicitly bearish, since as many as 74% of open positions are long. Concerning the orders placed 100 pips from the spot, there are now significantly more commands to sell—namely 79%.
© Dukascopy Bank SA