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    AUD/USD sets eye on 0.73

    © Dukascopy Bank SA
    "Yesterday's move in the [US] dollar is a symptom of people not wanting to be over-exposed to the dollar and the fact that the Fed might not be as hawkish... The long dollar trade is to a degree a risk-on trade."
    - BMO Capital Markets (based on Reuters) 


    Pair's Outlook 
    In spite of rather substantial volatility to the upside, the AUD/USD remained relatively unchanged yesterday. Ultimately, the Australian Dollar added only two pips, as the lower Bollinger band prevented the possible decline. The Aussie is likely to act on the mentioned support and attempt to retake the 0.73 psychological level today. If the US fundamental data disappoints, we could see a rally towards the weekly PP at 0.7327, although we should not rule out the possibility of a decline towards around 0.7240. 

    Traders' Sentiment 
    Bullish traders' sentiment returned to its Friday's level of 71%. At the same time, the portion of commands to purchase the Aussie lost one percentage point. The orders now take up 31% of the market.
    © Dukascopy Bank SA

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