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- Rabobank (based on Reuters)
Pair's Outlook
The Australian Dollar behaved according to the forecast, as it declined on Tuesday. Moreover, trade closed between the 20-day SMA and the 0.73 major level, as was anticipated. Today the Aussie experienced strong volatility to the downside, but managed to regain the bullish momentum. Even though the AUD/USD is edging closer to 0.74, having breached the two closest resistances, risks of falling back under 0.73 still persist. Furthermore, technical studies are giving mixed signals, unable to bolster any scenario.
Traders' Sentiment
Bullish SWFX traders' sentiment remains unchanged at 73%. At the same time, the portion of orders to acquire the Aussie lost 17 percentage points. The commands now take up 26% of the market.
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