Dukascopy - Analytics


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    AUD/USD attempts to end the week above 0.70

    © Dukascopy Bank SA
    "While we are not too concerned by the latest developments in China, there is a clear risk that global events will be a bigger drag on activity in Australia than we expect." 
    - Capital Economics (based on WBP Online) 

    Pair's Outlook 
    The Australian Dollar suffered a rather sharp loss against its US counterpart for the third consecutive day, falling to the lowest in slightly more than three months. The Aussie managed to post some gains during the Asian session, but the Greenback once again pushed the AUD/USD lower ahead of the NFP data. The data itself was completely ignored, with the pair hovering above the 0.70 psychological level where trade is likely to close. Meanwhile, technical indicators are also unable to provide any clear sense of direction, suggesting the Aussie might remain in flat. 

    Traders' Sentiment
    Bullish market sentiment remains unchanged at 71%, whereas the portion of orders to acquire the AUD edged higher from 36 to 43%.
    © Dukascopy Bank SA

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