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- RBC Capital Markets (based on CNBC)
Pair's Outlook
After reaching the lower Bollinger band at 0.7253, the AUD/USD currency pair bounced back and went all the way up to 0.73. Ultimately, the Aussie remained unchanged against its US counterpart, but is likely to experience more weakness today. As a result, we could see the Australian Dollar stabilise near the lower Bollinger band after all, while better-than-expected US fundamental could push the given pair even lower towards 0.72. On the contrary, the poor figures might cause the Australian Dollar to reach a new weekly high and reach the resistance around 0.7366.
Traders' Sentiment
There are now 70% of traders with a positive outlook towards the Aussie, whereas the share of buy orders inched up from 35 to 38%.
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