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    AUD/USD rallies after poor US data

    © Dukascopy Bank SA
    "Further easing of policy may be appropriate over the period ahead, in order to foster sustainable growth in demand and inflation consistent with the target." 
    - Glenn Stevens, RBA Governor (based on WBP Online)


    Pair's Outlook 
    On Wednesday, the Australian Dollar declined against the US Dollar for the fifth consecutive day. The weekly S2 failed to provide sufficient support, thus the pair settled below 0.7592. Today, due to the disappointing US Core Retail Sales data, the Aussie gained a chance to erase some of the losses. Technical indicators remain neutral, while the closest significant resistance is located around 0.7660, represented by the monthly and weekly S1s. 

    Traders' Sentimen
    Traders' sentiment barely changed over the last 24 hours, improving from 62% to 63%. In the meantime, the orders to sell the Aussie take up 83% of all commands, a higher percentage than yesterday (77%).
    © Dukascopy Bank SA

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