© Dukascopy Bank SA
- AMP Capital (based on the Australian)
Pair's Outlook
After consolidation around 0.9250 the Aussie managed to break the monthly PP at 0.9316 and almost reached the major level at 0.94 previous week. The pair has not lost its bullishness and it is appreciating towards the major level at 0.94, which it failed to approach past week. Nonetheless, we expect Australia's Dollar to slide, even if the 0.94 level is broken then it is unlikely to break the weekly and monthly R1 at 0.9417/27.
Traders' Sentiment
The sentiment towards the Aussie remains the same as in the last three trading days—45% are bullish and 55% are bearish. The distribution between the buy and sell orders is also quite stable—57% and 43% respectively.
© Dukascopy Bank SA