Dukascopy - Analytics

    Dukascopy

    488.50 6.00/10
    83% of positive reviews
    Real

    AUD/USD fluctuates around 0.78

    © Dukascopy Bank SA
    "But this [extension of US Dollar weakness] should not be mistaken as a sign of Australian dollar strength."
    - Credit Suisse (based on CNBC)


    Pair's Outlook 
    Last Friday, the AUD/USD currency pair remained relatively unchanged. Even though the Aussie tested the resistance around 0.7815, ultimately, the pair edged down by five pips, despite a prediction of a hike. On Monday a slight decline is likely to take place, although technical studies are showing mixed signs. A possibility of a slight rally also exists, which should be limited by the resistance cluster around 0.7820. However, the most likely outcome is a fall towards 0.7780, level where the pair closed at the of Friday. 

    Traders' Sentiment 
    SWFX trader's attitude towards the Aussie improved, with 68% of positions being long (previously 67%). The portion of buy orders added ten percentage points, they now take up 49% of the market.
    © Dukascopy Bank SA

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