- HSBC (based on FXStreet)
The Aussie edged lower yesterday, breaching the immediate support cluster around 0.7345. The 0.73 major level was reached, but caused the pair to retreat and settle at 0.7334. The earlier mentioned cluster is now providing resistance, preventing the AUD/USD pair from appreciating, while the 0.73 psychological level still acts as a support. Technical studies remain mixed, suggesting the Australian Dollar could remain flat today, although a slight inch to the downside is expected.
Less traders retain a positive outlook towards the Aussie today, as only 70% of all positions are long (previously 75%), while pending orders became equally divided between the buy and the sell ones.