© Dukascopy Bank SA
- Citi (based on CNBC)
Pair's Outlook
Despite a strong cluster providing substantial support, the Aussie still declined beyond 0.6920, reaching 0.6907. Due to the lack of market movers today, the AUD/USD is likely to undergo a correction; however, a the monthly S1 is now providing an obstacle for the given pair at 0.6955. Furthermore, this resistance might still cause the Australian Dollar to bounce back and fall even deeper to the 0.69 major level, as technical indicators suggest with their bearish signals.
Traders' Sentiment
Bullish SWFX traders' sentiment returned to its two-week old level of 72%. The portion of orders to acquire the Aussie in the 100-pip range from the spot dropped further, from 29 to 21%.
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