Dukascopy - Analytics


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    AUD/USD rebounded after two-day loss

    © Dukascopy Bank SA
    "The lower [Australian] dollar's been helpful. I think that will continue to be useful for us and an even lower dollar even more useful." 
    -   Reserve Bank of Australia board member (based on Bloomberg)

    Pair's Outlook
    The AUD/USD cross regained momentum after a small two-day decline from 0.7794 on Friday. At the end of the trading day the Aussie settled at 0.7836, reaching a three-week high. However, despite the technical indicators showing neutral signs, AUD/USD pair is likely to maintain its downtrend movement, as the Australian Dollar edged closer to the upper channel border. Moreover, the border is also backed by a cluster of other significant levels around 0.789, which might cause the currency to bounce back.

    Traders' Sentiment 
    Sentiment on the Aussie is distinctly bullish: 61% of traders are long. However, in the 100-pip range there is almost no difference between the buy and sell commands.
    © Dukascopy Bank SA

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