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– Market Watch
Pair's Outlook
Even though the AUD/USD currency pair ended the last day of the year trading in the red zone, it still managed to retain its position above the 0.72 major level, falling in line with expectations. Nevertheless, the Aussie fell under increased pressure on renewed risk-appetite, causing the 0.72 handle to be breached. Technical indicators also suggest the given pair is to end the day lower, but some recovery is still possible, which could leave the 0.72 mark intact. However, if the weekly PP proves to be not strong enough, all focus will turn to the second demand area, namely the weekly S1 at 0.7165.
Traders' Sentiment
Bears keep gaining numbers, as 58% of all open positions are short today (previously 57%). The share of buy orders increased dramatically, adding 41% points. The orders now take up 63% of the market.
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