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    AUD/USD struggles to rise above 0.75

    © Dukascopy Bank SA
    "The FX market is generally taking its cue from overall risk sentiment and so equities are higher today. Risk-sensitive currencies such as the Aussie dollar are higher as well."
    - Credit Agricole (based on Business Recorder)


    Pair's Outlook 
    The weekly S1 prevented the Australian Dollar from edging lower for the third time in a row and even caused a rally yesterday. Immediate resistance was breached, as the AUD/USD settled at 0.7459 on Thursday. Technical indicators are now giving bearish signals, suggesting the pair is to sustain losses again, while we expect the Aussie to outperform its American counterpart. If the Australian currency receives enough boost, the exchange rate might well go above 0.7485, namely the Monday's open price. Nevertheless, the 0.75 major level is still to prevent the pair from advancing too far. 

    Traders' Sentiment
    SWFX traders' sentiment remains bullish at 74%, whereas the number of orders to buy the Aussie edged down from 37 to 36%.
    © Dukascopy Bank SA

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