Dukascopy - Analytics

Dukascopy

463.75 6.50/10
83% of positive reviews
Real

AUD/USD stuck between 0.73 and 0.7345

© Dukascopy Bank SA
"The lower AUD is expected to encourage a pick-up in foreign capital in-flows as it makes local assets more attractive to foreign investors." 
- HSBC (based on FXStreet)


Pair's Outlook 
The Aussie edged lower yesterday, breaching the immediate support cluster around 0.7345. The 0.73 major level was reached, but caused the pair to retreat and settle at 0.7334. The earlier mentioned cluster is now providing resistance, preventing the AUD/USD pair from appreciating, while the 0.73 psychological level still acts as a support. Technical studies remain mixed, suggesting the Australian Dollar could remain flat today, although a slight inch to the downside is expected.  

Traders' Sentiment 

Less traders retain a positive outlook towards the Aussie today, as only 70% of all positions are long (previously 75%), while pending orders became equally divided between the buy and the sell ones.
© Dukascopy Bank SA


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