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- Swissquote Bank (based on WBP Online)
Pair's Outlook
The Australian currency continued to post losses against its US counterpart, having fallen more than 80 pips yesterday. The closest support is now located around the 0.73 major level, represented by the weekly S1 and the 200-day SMA. At the same time, the monthly PP is the closest resistance, but a much stronger cluster is formed by the 20, the 55 and 100-day SMAs, located circa 0.7430. Overall the AUD/USD currency pair appears to be in a bullish trend and is likely to keep edging higher until the 0.77 mark is reached, where the three-year down-trend rests. Daily technical studies, however, are giving mixed signals, while the monthly ones shifted to bearish.
Traders' Sentiment
Today 72% of all open positions are short (previously 73%), whereas the portion of sell orders surged from 57 to 82%.
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