Dukascopy - Analytics

    Dukascopy

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    The tide has turned for AUD/USD

    © Dukascopy Bank SA
    "A string of disappointing US releases has pushed data surprise measures to new recent lows."  
    - BNP Paribas (based on WBP Online)


    Pair's Outlook 
    Yesterday, the Australian Dollar plunged for the second day, instead of posting an expected rally. The 55-day SMA failed to stop the pair's fall and, as a result, AUD/USD retreated down to 0.7843. A further slump is likely to occur again today, although the technical indicators remain mixed. The Aussie is to find support around 0.7780, where the monthly PP lies. 

    Traders' Sentiment 
    Traders' sentiment stays positive, although one percentage less (66%) of participants are long the Australian currency than a day ago. The percentage of commands to acquire the Aussie shifted to the bullish side, as 61% of orders are now set to acquire the Australian Dollar against its US counterpart.
    © Dukascopy Bank SA

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