- Bank of Tokyo-Mitsubishi (based on WBP Online)
In spite of the expectations of the trend-line to provide sufficient support, the Aussie still slumped against the US Dollar. The second support level was also breached, but managed to slow down the fall, forcing the AUD/USD pair to stabilise at 0.7920. Today, however, we expect the Australian Dollar to reach the 0.79 area, with the weekly S1 limiting the losses. Nonetheless, the Greenback might be pushed even higher after the Fed meeting later today, thus the given pair might even fall deeper to the monthly PP at 0.7834.
SWFX traders' outlook towards the Aussie improved, as 74% of all positions are long (previously 71%). The percentage of buy orders, on the other hand, decreased from 74 to 66%.