Dukascopy - Analytics

Dukascopy

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AUD/USD struggles to surpass the trend line

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"The issue is much broader than the U.S. corporate tax rate being high."
 - Urban-Brookings Tax Policy Center (based on Reuters)


Pair's Outlook
The AUD/USD hiked from the weekly PP support at 0.776 level, closer to the Alligator (13,8,5) jaw line. The pair continue to trade within a trend line formed from the beginning of September 2015. On the one hand, the pair have already met the trend's bottom line and should continue the appreciation. On the other, the cross seems to face one strong resistance line– the long– term monthly trend line that led the pair to depreciate for several years.


Traders' Sentiment
Monday opening lost some portion of bullish traders and currently the pair is being bought by half of all trades, down from 64% on Friday. 43% of traders are willing to buy the pair in a 50– pip range, while 60% of all placed the 100– pip pending orders.
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