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    AUD/USD confirmed resistance

    © Dukascopy Bank SA
    "After the data, people are more comfortable about expecting a U.S. interest rate hike, and taking on long dollar positions."
    - Global-info Co (based on Reuters) 


    Pair's Outlook 
    After a two-day rally the Aussie reached the weekly R2, where it intersects the upper trendline, forcing the pair to bounce back. As a result, the Australian Dollar declined to the cluster of supports around 0.78. Any gains should be short-lived, as the technical indicators are rather bearish in the short and long terms. If the bearish tendency persists, then AUD/USD will keep sliding until the price reaches the lower trend-line. 

    Traders' Sentiment
    Long/short ratio finally edged up, with 63% of traders now being bulls and 37% being bears, after remaining unchanged for a week. However, the number of pending orders to acquire the Aussie in the 100-pip range from the spot plunged to 32%.
    © Dukascopy Bank SA

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