© Dukascopy Bank SA
- Morgan Stanley (based on the Bloomberg)
Pair's Outlook
The Aussie traded around 0.9360 for 8 trading days, when yesterday it started to slide and today it has dropped below the 55-day SMA and weekly S2 at 0.9286/85. The pair might fall further since traders have been waiting for volatility rather long, especially, pair's bears. The next target level might be the major level at 0.92; although, it is possible that the pair will bounce from that level. Nonetheless, we are sceptical about appreciation at that level, we expect the Aussie to slip towards the 100-day SMA at 0.9132.
Traders' Sentiment
The portion of bears lost four percentage points, but still an majority of traders expect further depreciation of the Aussie, specifically 53% of them.
© Dukascopy Bank SA