- IG Securities (based on Business Recorder)
The Aussie easily pierced the 100-day SMA and ended up closing at the down-trend on Friday. The price has already bounced back significantly, leading the AUD/USD towards the immediate support cluster's lowest border, namely the monthly PP at 0.7171. Another strong support rests around 0.7130, represented by the weekly S1; 20 and 55-day SMAs, but will doubtfully be reached. Last week's rally extension is highly unlikely, as the current down-trend has been providing resistance for over a year now.
The number of traders with a positive outlook towards the Aussie increased to 71% (previously 70%). There portion of orders to acquire the Antipodean currency also edged up, from 27 to 42%.