- BNP Paribas (based on WBP Online)
Despite some serious volatility to the upside, the AUD/USD barely changed yesterday. A slight decline took place, as the pair was unable to maintain its position over the 0.80 level. A correction is likely to take place on Thursday. Immediate support rests at 0.7941, represented by the weekly R2, while the 0.79 psychological level, along with the weekly R1, should provide a stronger obstacle. However, technical studies retain their bullish signals, suggesting the Aussie is to climb higher.
The portion of long positions increased by two percentage points up to 71%. At the same time, there are now even more orders to acquire the Australian Dollar, namely 58% of them.