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- Commerzbank (based on Commerzbank)
Pair's Outlook
The Australian Dollar underwent a correction, with the trade closing under the immediate support and, thus, under the up-trend. Despite all bearish signs, the AUD/USD is still expected to regain its bullish momentum, edging closer to this year's resistance trend-line. The Aussie's first step in achieving this goal is to pierce the immediate resistance in face of the weekly PP, 20 and 55-day SMAs; therefore, ensuring further trade above the 0.71 level. However, be wary of the Antipodean currency edging lower today, as it is struggling to hold above the weekly PP.
Traders' Sentiment
Bullish traders' sentiment remains unchanged at 73%, whereas the portion of buy orders added one more percentage point to 48%.
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