- BNP Paribas (based on Reuters)
Despite expectations, the AUD/USD currency pair declined on Thursday, as it failed to resume trade above the 0.74 psychological level. Moreover, the Aussie is likely to suffer even more losses today and reach a fresh five-year low under 0.73. Consequently, the immediate support around 0.7310 should fail in preventing the fall, whereas the cluster around 0.7270 could give in as well, if the US fundamentals provide the Greenback with a strong enough boost. Technical studies are supporting the negative outcome, as most of them are giving sell signals.
Bulls traders' sentiment remains unchanged at 71%, whereas there are now 53% of commands to acquire the Aussie (previously 45%).