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AUD/USD expected to fall despite poor US PPI

© Dukascopy Bank SA
"The overnight session witnessed the long overdue consolidation in USD." 
- CitiFX (based on CNBC)


Pair's Outlook 
The Aussie managed to erase the losses for the previous two days during Thursday. The AUD/USD pair gained 111 pips, amid worse-than-expected US Retail Sales data release. Nevertheless, the Australian Dollar is expected to decline today, despite poor US PPI data and lower Consumer Confidence, which is still at an extremely high level. Technical studies are bolstering this outcome, while the nearest support cluster lies at 0.7655, represented by the weekly and monthly S1s. 

Traders' Sentiment 
The bullish traders' sentiment slid back down from 63 to 62%. However, the portion of commands to acquire the Aussie surged, and now they take up 44% of all orders.
© Dukascopy Bank SA


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