- Credit Suisse (based on Reuters)
The Aussie brought no surprises in its performance on Tuesday, as it weakened against the US Dollar. Overall, the AUD/USD pair lost 32 pips and stabilised just under the support cluster, located at 0.7340. However, attempts to edge even lower were made and the Australian Dollar might succeed today. A slump towards 0.7267 is possible, especially if the Fed provides insight on an interest rate hike today at the FOMC Meeting Minutes. Nevertheless, we should not rule out the possibility of a surge towards 0.74 if the statement turns out to be more dovish.
Bullish market sentiment returned to its Monday's level of 74%, whereas orders are equally divided between the buy and the sell.