Dukascopy - Analytics


    472.50 6.00/10
    83% of positive reviews

    AUD/USD traces back under 0.73

    © Dukascopy Bank SA
    "It therefore seems highly unlikely that the Fed will commit itself one way or the other in its statement this evening, in order to give themselves plenty of wriggle room between now and the September meeting." 
    - CMC Markets (based on WBP Online) 

    Pair's Outlook 
    The Australian Dollar outperformed its US counterpart on Tuesday, and even edged higher than the target level. As a result, trade closed at 0.7349, but a correction is expected to take place today. The two immediate supports are likely to be easily breached, as the pair AUD/USD is to retreat under 0.73 again. The lower Bollinger band should limit the losses, although risks of edging even lower towards 0.72 persist. Meanwhile, technical indicators are now giving bearish signals, bolstering the possibility of the negative outcome. 

    Traders' Sentiment 
    Bulls keep gaining numbers, as 73% of traders now have a positive outlook towards the Aussie. The portion or buy orders added 17 percentage points, up to 48%.
    © Dukascopy Bank SA

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