© Dukascopy Bank SA
"What's interesting is this dynamic with the domestic economy improving while the external environment deteriorates. Ultimately the external environment is the more important factor and we think the Aussie dollar will be lower in time."
- ANZ (based on The Australian)
Pair's Outlook
Pair extended it's gains till 91 cent mark, but failed to advance above it and dipped till 90 cent mark today. At the moment it is hovering slightly above the weekly PP. Now it depends where the pair will open in the new week. Below 90 cents is likely to provoke a sell off till 89 cents, where median expectation price of this quarter of major market participants is located. If the pair is to open above 90 cents we might see it testing 91 cent mark in the nearest future.
Traders' Sentiment
Bullish side of open positions is climbing higher further. It increased by 4% since yesterday and is at 69% gauge today. In addition, bullish side of pending orders expanded by 20-30% and is at 75-85% level depending on the range (50 to 100 pips around market price).
© Dukascopy Bank SA