Dukascopy - Analytics

    Dukascopy

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    AUD/USD meets new bears

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    "Australian industry must continue to demonstrate that it can be competitive, and can be a vital, long-term contributor to supply chains and support strategies."
     - Industry Minister Ian MacFarlane (based on Reuters)


    Pair's Outlook
    The AUD/USD cross performed highly bearish today, respecting the yesterday's move. The pair is trading within the same price range from the beginning of February 2015, fluctuating from 0.783 till 0.771. On Thursday, price fell down to the weekly PP at 0.775, but rebounded a little. The RSI indicator is still facing a divergence with the chart pattern. If the depreciation continues, the next support is situated at 0.768, Bollinger band.


     Traders' Sentiment
    The market remains bullish with 61% of traders buying the pair. About 36% of 50– pip pending orders are placed to be long. In addition, about the same amount of market participants (40%, to be exact) will buy.
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