© Dukascopy Bank SA
- Banco Santander SA (based on Bloomberg)
Pair's Outlook
The Aussie has managed to reverse yesterday's losses and even to approach the major level at 0.93. This jump was rather unexpected and we do expect some bearish corrections. The daily technical indicators expect the Aussie falling in value relative to the U.S. counterpart. Despite the pair added almost 100 pips today we are bearish on the pair and we suspect it sliding below the weekly PP at 0.9271.
Traders' Sentiment
The distribution between the proponents and opponents of the Aussie's appreciation relative to the U.S. Dollar remains about the same as 24 hours ago—47% and 53% accordingly. Concerning the orders, there are now significantly more commands to sell—75%.
© Dukascopy Bank SA