© Dukascopy Bank SA
"The main concern at present is the Aussie dollar, threatening to push its way higher on the back of a housing-led domestic recovery."
- Commonwealth Bank of Australia (based on Bloomberg)
Pair's Outlook
Today the pair tried to break 0.93 level once again; however, unsuccessfully, after reaching this level it dropped back to trade around 0.9250. We see this pair a slightly overbought and that it should trade below 0.92. Although, the daily technical indicators suggest that the pair will climb, therefore, few more attacks toward 0.93 are possible. For pair's bears 0.92 will be rather significant level as if it is not broken then the pair might regain its bullishness.
Traders' Sentiment
Only 29% of the SWFX traders do expect that the Aussie will gain against the greenback. Although, there are quite significant changes in the orders set, as of today there are 69% of orders set to buy and only 31% set to sell.
© Dukascopy Bank SA