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- Scotiabank(based on FXStreet)
Pair's Outlook
The Aussie appreciated against the US Dollar yesterday, despite all expectations. Nevertheless, trade was capped within the borders of weekly S1 and PP. The outlook remains unchanged and bearish, as Thursday's gains are considered to be a setback. The Australian Dollar is likely to retreat towards the weekly S1 at 0.7350 today, while technical studies are showing distinctly bearish signs. The 0.74 level, however, could potentially stop the fall as well. Furthermore, the AUD/USD traded within the borders of weekly S1 and PP during the whole week and should remain caged inside today.
Traders' Sentiment
Bullish traders' sentiment remains unchanged at 71%, whereas the number of buy orders added eight percentage points, up to 38%.
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