© Dukascopy Bank SA
- Commonwealth Bank (based on the Australian)
Pair's Outlook
The Aussie is gaining little by little, today it reached the weekly PP at 0.9271. We suspect the pair to appreciate towards the 20 and 55-day SMAs at 0.9303/11 if the weekly PP is broken. However, in case the Aussie fails to breach the weekly PP then it might fall towards the weekly and monthly S1 at 0.9176/71. In medium to longer term we are bearish and we see the pair trading in the range from 0.91 to 0.92 with a possibility to bottom around 0.9050.
Traders' Sentiment
Although there are relatively less people than yesterday considering that the greenback is going to depreciate, they are still in majority (55%). In the meantime, the share of buy orders grew from 50% up to 54%.
© Dukascopy Bank SA