Dukascopy - Analytics

Dukascopy

463.75 6.50/10
83% of positive reviews
Real

AUD/USD has difficulties crossing 0.7335

© Dukascopy Bank SA
"We still expect AUD/USD to edge lower in the coming months as relative terms of trade and a looming Fed hike will weigh on the cross." - Danske Bank (based on FXStreet)

Pair's Outlook 
The Australian Dollar skyrocketed yesterday, due to a boost received from the RBA leaving the cash rate unchanged. The cluster around 0.7335 managed to limit the AUD/USD's volatility and should keep the pair at bay today, as it is now also bolstered by the Bollinger band. According to the technical studies, the Aussie could still appreciate against the US Dollar, but we reckon the rally's magnitude should not exceed 16 pips. Meanwhile, the weekly R1 took the role of the immediate support, located at 0.7263. 

Traders' Sentiment 
Bullish traders' sentiment returned to its Monday's level of 74% (up from 73%). Meanwhile, the portion of sell orders lost six percentage points. The commands now take up 61% of the market.
© Dukascopy Bank SA


To leave a comment you must be or register

By visiting our website and services, you agree to the conditions of use of cookies. Learn more I agree