Dukascopy - Analytics

Dukascopy

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US Dollar outperforms the Aussie

© Dukascopy Bank SA
"Monetary policy can help support the global economy, but ultimately it cannot be the fundamental driver of economic growth."
- RBA (based on WBP Online)


Pair's Outlook 
As anticipated, AUD/USD plunged on Thursday, but was unable to erase Tuesday's gains. The Aussie managed to penetrate the first support level at 0.7795, while the subsequent one at 0.7782 stopped the Australian Dollar from a deeper sell-off. The technical studies suggest that the pair will not experience any changes; however, strong US Non-Farm Payrolls data release weighs on AUD/USD. Hence, the downside risks persist. Closest support is located around 0.7725. 

Traders' Sentiment 
Market sentiment remained unchanged, whereas the buy/sell ratio of pending orders decreased. Right now 35% of all orders are set to buy and the remaining 65% are set to sell the Aussie.
© Dukascopy Bank SA


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