Note: This section contains information in English only."The chatter has grown louder as Canberra's mid-year budget update has drawn nearer (Monday). The general sense in the market is that the downgrade will come within 12 months but post-May 2017 budget might be a more logical time. If it occurs next week, it will be another reason to sell AUD/USD."
- Westpac (based on FXStreet)
Pair's Outlook
[ANNOUNCE]The Australian Dollar inched down against the US counterpart for the second day yesterday, getting closer to the point of erasing all gains, which occurred in the last three weeks.[/ANNOUNCE] The pair remains under pressure, with losses expected to occur for the third consecutive time. The weekly S3 and the Bollinger band form immediate support around 0.7325, which are likely to limit the losses today, whereas a breach of this area could lead to a significant slump under the 0.73 mark. Overall, if the Aussie drops more than 30 pips today, the previous three-week recovery will become in vain.
Traders' Sentiment
Although market sentiment remains bearish, there are slightly less short positions, namely 55%, compared to 57% on Thursday. A significant portion of all pending orders is still to sell the AUD—74%.
Fri, 16 Dec 2016 15:52:57 GMT
Source: Dukascopy Bank SA
- Westpac (based on FXStreet)
Pair's Outlook
[ANNOUNCE]The Australian Dollar inched down against the US counterpart for the second day yesterday, getting closer to the point of erasing all gains, which occurred in the last three weeks.[/ANNOUNCE] The pair remains under pressure, with losses expected to occur for the third consecutive time. The weekly S3 and the Bollinger band form immediate support around 0.7325, which are likely to limit the losses today, whereas a breach of this area could lead to a significant slump under the 0.73 mark. Overall, if the Aussie drops more than 30 pips today, the previous three-week recovery will become in vain.
Traders' Sentiment
Although market sentiment remains bearish, there are slightly less short positions, namely 55%, compared to 57% on Thursday. A significant portion of all pending orders is still to sell the AUD—74%.