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– UOB Group (based on FXStreet)
Pair's Outlook
Even though the Aussie experienced some volatility on Monday, ultimately it remained completely flat against the US Dollar. Consequently, the obstacles present yesterday still remain today, namely the tough resistance cluster around 0.7630. However, technical indicators keep insisting the AUD/USDis to edge higher this week, thus, an attempt to pierce the immediate resistance cluster is likely to be maid. Tomorrow's early fundamental data could provide sufficient impetus for a breakout, but today the Australian Dollar is expected to remain below 0.7640, while also retaining its position above the 0.76 mark.
Traders' Sentiment
Today 64% of all open positions are long (previously 65), while all pending orders are equally divided between the buy and the sell ones.
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