Dukascopy - Analytics


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AUD/USD attempts to regain bullish momentum

© Dukascopy Bank SA
"With both employment and retail sales providing a glimmer of hope that the economy was stabilizing last month, this month's releases will be watched closely for confirmation." 
- ANZ Research (based on WBP Online)

Pair's Outlook 
The Aussie slid for the third consecutive day last Friday. Even though the volatility stretched out towards 0.78, the AUD/USD pair still managed to end the trading session at 0.7846, even above the monthly PP. Technical indicators retain their distinctly bullish signs, suggesting a rally to take place today. Despite good fundamentals, the Australian Dollar barely changed against the Greenback. We still assume a slight hike in the pair's value today, with the monthly PP now acting as the closest resistance. 

Traders' Sentiment
Although not as strong as on Friday, but market sentiment remains bullish at 70%. Today only 35% (previously 52%) of all commands are now to acquire the Aussie.
© Dukascopy Bank SA

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