© Dukascopy Bank SA
- Global-info Co (based on Business Recorder)
Pair's Outlook
Even though the Aussie edged higher against the US Dollar on Wednesday, price stabilised slightly lower than anticipated, unable to cross the 0.72 mark. Nothing interesting is expected to happen with the AUD/USD currency pair, as it keeps gravitating towards the 0.72 level, with the weekly S1 being the lower border and the cluster around 0.7256, namely the weekly PP and the 200-day SMA, the upper one. Nevertheless, technical indicators remain in favour of the bearish outcome, but either way the overall trend remains bearish for the sixth consecutive week now.
Traders' Sentiment
There are 73% of all open positions being long today (previously 74%). At the same time, the portion of orders to acquire the Australian Dollar added only one percentage point, having risen from 65 to 66%.
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