Dukascopy - Analytics


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    AUD/USD keeps pushing forward

    © Dukascopy Bank SA
    "Judging by the mild manner of market moves, the assessment [on the post payroll price action was a reflection of the market outlook] thus far appears to be 'yes', with Treasury yields drifting higher, the curve steepening, the USD holding at high levels, and market odds of a December hike still sitting slightly under 70%." 
    - ANZ (based on WBP Online) 

    Pair's Outlook 
    The Australian Dollar failed to reach the weekly PP, but appreciated against its US counterpart nonetheless. The outlook remains grim, as technical indicators keep giving bearish signals, suggesting the Aussie might fall towards the 0.70 mark, which, in turn, is now bolstered by the Bollinger band. However, the spot price is still rather far from the down-trend, meaning a possibility of a rally remains. The weekly PP near the 0.71 major level is still the closest resistance, but focus now set on the 55-day SMA, which is required to be pierced in order to reach the trend-line. 

    Traders' Sentiment 
    SWFX traders' sentiment improved today, as 74% of traders are long the AUD. Meanwhile, 72% of all orders are to sell the Aussie.
    © Dukascopy Bank SA

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