© Dukascopy Bank SA
- UOB (based on FXStreet)
Pair's Outlook
The AUD/USD currency pair remained relatively unchanged on Tuesday, with falling oil prices weighing on the commodity currency. Nevertheless, the immediate support, namely the weekly pivot point, managed to limit the losses yesterday and is likely to do so again today. Meanwhile, technical indicators are giving bearish signals, implying that a decline is the most probable outcome. As it was mentioned earlier this week, another downside development would just be a mere setback and would not mean the current bullish trend is to be completely broken.
Traders' Sentiment
Bearish market sentiment remains unchanged at 52% today, whereas the portion of sell orders lost nine percentage points, having fallen to 58%.
© Dukascopy Bank SA