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- TD Securities (based on FXStreet)
Pair's Outlook
At the end of last week, the US Dollar outperformed the Aussie, causing it to fall down to 0.7630. However, the Bollinger band provided some support there, forcing the AUD/USD to step back and stabilise at 0.655. Today technical studies keep showing bearish signs in the short-term, suggesting the pair is to slump again, whereas we expect the Australian Dollar to regain some bullish momentum after opening near a three-week low. The Aussie is unlikely to retake the 0.77 psychological level today, as the closest significant resistance lies at 0.7666, blocking the path.
Traders' Sentiment
Net positions remain unchanged, with 74% of traders holding long positions, while buy orders now take up only 34% of the market.
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