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    AUD/USD to end the week under 0.73

    © Dukascopy Bank SA
    "The AUD is having trouble breaking higher, but also bounced firmly off recent lows with US data improving overnight." 
    - ANZ (based on WBP Online) 


    Pair's Outlook 
    Mixed US fundamentals limited the Aussie's gains yesterday, causing the pair to retreat from erasing Tuesday's losses. Even though technical studies retain their bullish signs, the AUD/USD currency pair is still expected to decline today, as it has been weakened by the RBA's Financial Stability Review. The Australian Dollar has already returned below the 0.73 major level, but risks falling even deeper towards 0.7230, namely the weekly PP and monthly R1. An exchange rate hike will doubtfully occur, as the 100-day SMA prevented the pair from rising through all of the week.

    Traders' Sentiment 
    Bullish SWFX sentiment returned to its Monday's level of 71%, whereas the portion of purchase orders edged up from 41 to 56%.
    © Dukascopy Bank SA

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