Dukascopy - Analytics


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    AUD/USD establishes new three-week high

    © Dukascopy Bank SA
    "The real question for the dollar is: is this just a poor quarter or is this the beginning of a trend of slower data in the States?" 
    - Commerzbank (based on CNBC)

    Pair's Outlook 
    On Thursday, the Aussie overperformed, as immediate resistances failed to stop the advance. As a result, the AUD/USD pair managed to reach the weekly R2 at 0.7820; however, the pair still closed at 0.7785. The bullish momentum is expected to be prolonged today; hence, the Australian Dollar might cross the 0.78 border and meet resistance around 0.7815, represented by the 100-day SMA and the weekly R2. Meanwhile, the technical studies are giving mixed signs on the daily timeframe. 

    Traders' Sentiment 
    Market sentiment improved, as 67% of traders are now long the Aussie (previously 66%). Buy commands also rose by one percentage point and now account for 39% of the market.
    © Dukascopy Bank SA

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