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.
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.