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    AUD/USD not yet ready to return in the down-trend

    © Dukascopy Bank SA
    "The Australian dollar has remained resilient recently even as the price of iron ore has fallen to new cyclical lows. We still expect the Australian dollar to weaken further extending its adjustment lower." 
    - Bank of Tokyo-Mitsubishi (based on WBP Online) 


    Pair's Outlook 
    The AUD/USD failed to return under the down-trend yesterday and remained relatively unchanged over the day. Even though technical studies keep giving bullish signs today, the pair will doubtfully rebound. The a lot worse-than-expected Private Capital Expenditures earlier today set a bearish mood for the Aussie, with no signs of the bullish momentum being regained. The 100-day SMA is the nearest support level at 0.7202, but trade is still likely to close above the down-trend. 

    Traders' Sentiment 
    Bullish traders' sentiment returned to its Monday's level of 71%, compared to 72% yesterday. The portion of orders to buy the Aussie added 12% points. The commands now take up 54% of the market.
    © Dukascopy Bank SA

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