- Glenn Stevens, RBA Governor (based on WBP Online)
The AUD/USD pair continues to trade withing the borders of the downtrend channel. Yesterday the Aussie plunged, ignoring the 20-day SMA and monthly PP. Nevertheless, the week has just begun, and the Australian Dollar still has time to fall down to one of the previously discussed supports around 0.7725 or 0.7655. As for Tuesday, technical indicators are showing neutral signals, so the pair is likely to settle under the monthly PP around 0.7778, if not slump a little more since Monday.
Bull/bear ratio slid, as 60% of traders are now optimistic towards the Aussie. At the same time, the number of buy orders sharply declined, as 29% of traders are planning to open long positions.