© Dukascopy Bank SA
- Commonwealth Bank (based on Bloomberg)
Pair's Outlook
This trading day has been a little different compared to the previous ones, as even though the pair set a new low, it is starting to show some resistance to the down-trend. Moreover, also the technical studies are becoming less bearish, as the weekly ones are just slightly more to the downside. We expect the pair to find its support either near the current low at 0.8224 or in the worst case scenario near the 0.80 mark.
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 buy—namely 73%.
© Dukascopy Bank SA