- BMO Capital Markets (based on Reuters)
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.
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.