© Dukascopy Bank SA
- Barclays (based on CNBC)
Pair's Outlook
The powerful resistance cluster around 0.7780 weighed on the AUD/USD yesterday, forcing it to fall down. The Aussie managed to breach the closest support at 0.77, but did not edge much lower after, as trade closed at 0.7685. Nevertheless, the Australian Dollar is expected to suffer losses again today, with the closest support located only at 0.7560, namely the weekly S1. However, a drop below 0.76 psychological level has a slim chance to occur, despite technical indicators showing distinctly bearish signs.
Traders' Sentiment
The SWFX traders' sentiment returned to its Monday's level of 70%. Meanwhile, the portion of orders to acquire the Aussie added 21 percentage point, now equal to the sentiment share (70%).
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