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    AUD/USD takes another shot at falling under one-year low

    © Dukascopy Bank SA
    "The market is getting spooked by the turmoil in financial markets and the ongoing concerns about a slowdown in China." 
    - Australia New Zealand Banking Group Ltd. (based on Bloomberg)


    Pair's Outlook 

    The Australian currency managed to recover from intraday losses and even erase Wednesday's losses on Thursday. However, the AUD/USD plunged beyond the 2015 low today, amid another decline in oil prices and the return of risk aversion. The Bollinger band, however, was able to limit the volatility at the moment of writing. Trade is expected to close below the 2015 low, but above the monthly S3, which is located at 0.6838. Meanwhile, technical indicators are giving mixed signals, suggesting that most of the better half of the losses could be erased by day's end. 

    Traders' Sentiment 
    Today 73% of traders are long the Aussie (previously 75%). At the same time, the portion of sell orders added 3% points, up to 71%.
    © Dukascopy Bank SA

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