Dukascopy - Analytics


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AUD/USD falls to triangle's lower border

© Dukascopy Bank SA
"Market sentiment has been driven toward a rate hike." 
- Sumitomo Mitsui Trust Bank (based on Business Recorder) 

Pair's Outlook 
The Aussie remained relatively unchanged over Thursday, losing only five pips. The 55-day SMA provided support for the third consecutive time, but risks of it getting pierced today increased. Technical indicators suggest the AUD/USD could fall towards the support trend-line at 0.7087, with a breakthrough also possible. The next target after the up-trend is the cluster around 0.7045, namely the weekly S1 and the Bollinger band. Nonetheless, even if the breach occurs, price might still return within its borders next week.

Traders' Sentiment 
The share of bulls returned to its last Friday's level of 73%, while the number of sell orders, returned to its Wednesday's level, namely 83% (previously 74%).
© Dukascopy Bank SA

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