© Dukascopy Bank SA
- BNP Paribas (based on CNBC)
Pair's Outlook
In spite of moderate volatility to the downside, the Australian Dollar still closed trade above the 0.74 psychological level. The AUD/USD settled at 0.7420, namely the lower Bollinger band, which is likely to cause a small rebound today, as it is also bolstered by the weekly S1 today. Gains should be limited by the monthly S2 around 0.7446, although the pair tested the 0.75 major level earlier today. Meanwhile, technical indicators retain their mixed signals, unable to confirm the bullish outcome.
Traders' Sentiment
Bullish market sentiment returned to its Tuesday's level of 74% (previously 75%). The portion of orders to buy the Aussie lost three percentage points. The commands now take up 37% of the market.
© Dukascopy Bank SA