Dukascopy - Analytics

    Dukascopy

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    AUD/USD keeps sliding down

    © Dukascopy Bank SA
    "Such a result [Fed's decision to leave growth forecasts and rate hike plan unchanged] would appear hawkish relative current priced-in bets and seems likely to push the US Dollar higher. It may likewise stoke renewed risk aversion, applying outsized pressure on the Australian, Canadian and New Zealand Dollars." 
    - DailyFX (based on PoundSterlingLive) 


    Pair's Outlook 
    Upon reaching the 0.7450 level, the Australian Dollar trimmed some gains against the Buck, but still managed to close above the 0.74 mark. Nevertheless, the overall trend remains bearish, with the 55-day SMA acting as a ceiling, a breach of which is required for the possibility for the bullish bias to emerge. The given SMA is also reinforced by the weekly R1 and the Bollinger band, thus, a breach is not yet expected. Consequently, the Aussie is likely to decline today, with traders taking profit from yesterday's rally. Ultimately, the 200-day SMA should be the lowest border, preventing the pair from falling deeper down, located just under 0.73. 

    Traders' Sentiment 
    Today three quarters (75%) of all open positions are long (previously 74%), while the share of sell orders inched lower from 73 to 59%.
    © Dukascopy Bank SA

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