- CMC Markets (based on WBP Online)
Although the AUD/USD managed to reach the 0.74 target yesterday, the trade still closed in front of the immediate support cluster. Nevertheless, the Aussie is expected to weaken again today, with the fall likely to be longer than yesterday. The monthly S2 is now providing immediate support, while the Bollinger band shifted slightly lower. The Australian Dollar has already slumped under the third support level, therefore, the exchange rate should close either between the monthly S2 and Bollinger band, or around the 0.74 psychological area.
Exactly three fourths of traders hold long positions today, whereas the portion of buy commands declined from 44 to 40%.