- Robert Sinche, Amherst Pierpont Securities (based on CNBC)
The Antipodean currency failed to regain the bullish momentum, but also failed to maintain trade below the 0.75 mark. The AUD/USD currency pair, as a result, remained almost completely unchanged, but yesterday's risks are still present. The Monthly R3 and the weekly PP around 0.7560 keep weighing on the Aussie, despite technical indicators showing bullish signs. At the same time, the 20-day SMA and the weekly S1 form a strong support area around the 0.7450 level, which the pair was unable to pierce for three weeks now. The week is likely to end with neither the immediate support nor the resistance violated, with the 0.75 major level also being an obstacle.
Traders' sentiment remains bullish at 70%, compared to 71% previously. The share of buy orders increased from 60 to 66%.