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    AUD/USD: downward momentum intact

    © Dukascopy Bank SA
    "Every time the Fed has tightened policy after achieving full employment, it has driven the economy into recession." 
    - Richard Fisher, Dallas Fed President (based on WBP Online)


    Pair's Outlook 
    On Monday the Australian Dollar opened at 0.7722 and made a 40-pip step south. Hence, the currency pair remained in a tight range between the weekly PP and S1. The Aussie is likely to fall again today for the fourth consecutive day, as the Australian NAB Business Confidence deteriorated, whereas the technical indicators remain neutral. A key support level lies at 0.7605, represented by the weekly S2. 

    Traders' Sentiment
    Liquidity consumer confidence towards the Australian Dollar improved up to 62% (previously 61%). At the same time, the gap between the buy and sell orders narrowed. Now 58% of traders plan to sell the currency in the 100-pip radius around the spot.
    © Dukascopy Bank SA

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