Dukascopy - Analytics

Dukascopy

463.75 6.00/10
83% of positive reviews
Real

AUD/USD looks for support at 0.80

© Dukascopy Bank SA
"Some of the stimulus for small businesses might actually help reduce the prospect of any further near-term move by the RBA."
- National Australia Bank Ltd. (based on Bloomberg)


Pair's Outlook
Just like EUR/JPY, AUD/USD is struggling to get past a major resistance area created by the monthly R1 and 200-day SMA. After a test of 0.8135 the currency pair is now declining, but it has a good chance of stabilising near 0.80, where the price is supposed to find support represented by the recently established trend-line. Accordingly, we expect a quick rebound back to the 0.8150/00 area during the next few days.

Traders' Sentiment
Same as on Friday, almost three fourths of the traders are long the Australian Dollar, namely 74% of them. Concerning the commands set to acquire the Aussie, over the weekend their share fell from 71 to 64%.
© Dukascopy Bank SA


To leave a comment you must be or register

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