© Dukascopy Bank SA
- BK Asset Management (based on the Australian Associated Press)
Pair's Outlook
The Aussie is trying to recover from Tuesday's decline; however, so far unsuccessfully, it is trading around the weekly S3 at 0.9243. It seems at the moment the pair is not ready for any significant movement, though we expect it to slide towards the monthly S1 and 200-day SMA at 0.9171/63. The technical indicators suggest that the Aussie might appreciate; although, we do not see it above the major level at 0.93 in the short run.
Traders' Sentiment
For the first time in 40 trading days pair's sentiment is above 50%, meaning that more than a half of traders expect the Aussie to appreciate against the greenback. In the meantime, the share of buy orders dropped from 58% to 33%.
© Dukascopy Bank SA