Dukascopy - Analytics


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    AUD/USD closes in on the channel border

    © Dukascopy Bank SA
    "Yesterday's FOMC minutes revealed that behind the veil of ‘data dependency' we can find a divided FOMC, with the hawks already having their minds set on a June rate hike, while the doves want to wait until later in the year and some even until next year." 
    - Rabobank (based on FXStreet)

    Pair's Outlook 
    As expected, the Aussie appreciated against the Greenback yesterday, despite the presence of some bearish signs. Still, the daily change was not as large as anticipated, even though the pair tested a higher resistance level during the day. Ultimately, the pair settled at 0.7682. Thursday should also be bullish, though the technical studies remain mixed. Nearest resistance rests around 0.7705, where the monthly PP and the 20-day SMA merge, but the price also can reach the region between 0.7705 and 0.7736. 

    Traders' Sentiment 
    Market sentiment among SWFX traders somewhat worsened, but is nonetheless bullish: 63% of participants are long the Aussie. The number of buy orders increased from 40 to 42%.
    © Dukascopy Bank SA

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