Dukascopy - Analytics

    Dukascopy

    468.75 6.25/10
    83% of positive reviews
    Real

    AUD/USD attempts to overcome the three-month high

    © Dukascopy Bank SA
    "Markets continue to price the first Fed rate hike no earlier than December. We think improving Q2 data will force a repricing in the weeks ahead and remain bullish USD accordingly." 
    - BNP Paribas (based on WBP Online)

    Pair's Outlook 
    The Australian Dollar appreciated against the Greenback on Tuesday. The AUD/USD pair pierced through the immediate resistance and even tested the 0.80 psychological level, but settled at 0.7990. The rally is likely to continue today, as technical indicators retain distinctly bullish signs, bolstering the positive bias. The closest resistance is located around 0.8050, represented by the weekly R1 and Bollinger band; however, a hike towards 0.81 is also possible if the US fundamentals show poor figures. 

    Traders' Sentiment 
    The share of longs returned to its Monday's level of 71%. At the same time, the portion of orders to acquire the Aussie decreased. Now 39% of commands are to purchase the Australian Dollar.
    © Dukascopy Bank SA

    To leave a comment you must or Join us


    By visiting our website and services, you agree to the conditions of use of cookies. Learn more
    I agree