Dukascopy - Analytics


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    AUD/USD attempts to erase yesterday's losses

    © Dukascopy Bank SA
    "Investors are wary that the RBA, unhappy about the AUD's bounce after Tuesday's policy decision, may choose to highlight that the door remains open to further rate cuts." 
    - BNZ (based on The New Zealand Herald) 

    Pair's Outlook 
    On Thursday, the AUD/USD currency pair traded in the tight range between the weekly PP and R1. Resistance was met at 0.8004, which forced the Aussie to weaken against the US Dollar. As a result, the Australian Dollar settled at 0.79. Meanwhile, technical studies retain their strong bullish signs, suggesting the pair to rebound. Closest resistance still rests around 0.8004, although a hike so high is unlikely to occur. The area around 0.7960 has the highest probability of the pair to close at. 

    Traders' Sentiment 
    The portion of bulls returned to its Wednesday's level of 67%. The number of purchase orders added six percentage points. Now 65% of commands are to acquire the Aussie.
    © Dukascopy Bank SA

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