© Dukascopy Bank SA
"The RBA is showing a little bit more interest in the currency. Perhaps they [minutes] could have been construed as the RBA pushing the line on the currency."
- Royal Bank of Scotland Group Plc. (based on Bloomberg)
Pair's Outlook
The Aussie has tried to break the monthly R1 at 0.9412 for a second straight day; however, unsuccessfully. In our opinion the pair is poised for a decline, most likely it will depreciate towards the major level at 0.9300 and later weekly S1 at 0.9271. However, daily technical indicators suspect an advance, therefore, some slight climb might be expected, but the overall trend should be to the downside.
Traders' Sentiment
The sentiment towards the Aussie's appreciation decreased by 7% and reached 33%. Concerning the orders placed 100 pips from the spot, there are now significantly more commands to sell – 66% from yesterday's 36%.
© Dukascopy Bank SA