Dukascopy - Analytics


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    AUD/USD dives from the 20–day SMA

    © Dukascopy bank SA
    "By any measure, households [U.S.] are reaping significant disposable income gains each week at current gas prices."
     - Ford Motor Co. (based on Bloomberg)

    Pair's Outlook
    It took the pair over a week to regain some previous losses. However, the cross failed to surpass the weekly R2 at 0.821 and the Aussie weakened versus its greenback counterpart and tumbled to trade at 0.810. A major sell-off of the Australian currency was seen straight after the cross touched the 20– day SMA at 0.817. The current state of AUD/USD holds a neutral territory, which will probably remain for some time of consolidation.

    Traders' Sentiment
    Friday's traders' sentiment was kept unchanged from the last update since 71% of all trades are long and the market participants believes that the pair will eventually appreciate. Both the 50– pip and 100– pip pending orders are placed for the same amount of traders, which accounts for 56%.

    © Dukascopy bank SA

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