Dukascopy - Analytics

Dukascopy

463.75 6.25/10
83% of positive reviews
Real

AUD/USD stuck between 0.77 and 0.777

© Dukascopy Bank SA
"The most likely path for the AUD over the next few months is sideways. That said, tail risks remain more tangible than usual and vigilance is needed. Negotiations between Greece and Europe sit at the centre of these risks." 
- ANZ (based on WBP Online)


Pair's Outlook 
Even though the AUD/USD currency pair reached a daily low of 0.7736 last Friday, the Aussie still closed trade in front of the 100-day SMA at 0.7770. Today the mentioned SMA acts as an immediate resistance and might cause the Australian Dollar to edge lower. Moreover, a strong resistance cluster just above the 0.78 psychological level has already pushed the pair back down. The closest support lies at 0.7752, namely the weekly pivot point, but technical studies retain mixed signals, unable to confirm the scenario. 

Traders' Sentiment 
Both net positions and net orders weakened. Now 70% of traders hold long positions and 54% of all orders are to buy the Aussie.
© Dukascopy Bank SA


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