Dukascopy - Analytics

    Dukascopy

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    AUD/USD remains in tight range

    © Dukascopy Bank SA
    "Risk off continues to dominate markets with a number of Brexit polls driving volatility. The AUD held up well despite the spike in volatility." 
    - ANZ (based on Business Recorder) 


    Pair's Outlook 
    As was anticipated, the AUD/USD currency pair remained stuck in a tight range, namely between the monthly PP from below and the 100-day SMA and the weekly PP from above. Technical studies, however, retain their bullish signals, suggesting that the Aussie is to appreciated for the second day. The immediate resistance, however, is stronger than the nearest support, thus, risks are skewed to the downside. Ultimately, the second support area around 0.7280, represented by the weekly S1, the 20 and the 200-day SMAs, is to be sufficient to limit the losses. 

    Traders' Sentiment 
    Nearly three quarters (73%) of traders now have a positive outlook towards the Aussie (previously 72%). The number of sell orders, however, remains unchanged at 66%.
    © Dukascopy Bank SA

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