- ANZ (based on WBP Online)
The AUD/USD pair misbehaved yesterday, as a surge took place instead of a slump. The 0.7709 support level was tested, but the Aussie still managed to rise versus the Greenback. The pair also tested the 100-day SMA, before closing trade at 0.7774. The rally is likely to be extended and the Australian Dollar might overcome the 0.78 level again. The 100-day SMA still acts as the immediate resistance level, but a hike towards the upper Bollinger band is possible. Technical studies retain their mixed signals in the daily timeframe.
Today 66% of traders are long the Aussie, compared to 70% yesterday. The portion of purchase orders dropped from 37 to 35%.