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– WisdomTree Funds (based on Market Watch)
Pair's Outlook
The Aussie managed to almost completely recover from its intraday losses yesterday, but still causing the ascending channel pattern to be pierced to the downside. Today technical indicators are giving distinctly bullish signals, suggesting the AUD/USD pair is to edge higher; however, that might not be the case just yet. There are other signs also supporting the possibility of the Aussie Dollar gaining value, but others factors are also in play, weighing on the commodity currency. In case bears keep pushing the pair lower, the cluster around 0.75, where the 100-day SMA coincides with the 200-day one, is to prevent the Australian currency from falling deeper down.
Traders' Sentiment
There are 63% of traders with a negative outlook towards the Aussie today, while 59% of all pending orders are to sell it.
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