© Dukascopy Bank SA
- Nomura (based on news.com.au)
Pair's Outlook
Even though the Aussie slid below the weekly R1 today it managed to recover the losses and to trade around the major level at 0.94. Now, the Australian Dollar is still on a uptrend, but a decline may be expected in the nearest time, because of the strong resistance levels in front. Nonetheless, if the pair manages to breach the 0.94 level and closes above it then the weekly R2 might be approached, possibly even the 2014 high at 0.9461.
Traders' Sentiment
The sentiment is still strongly bearish as 73% of the SWFX market participants expects the greenback to outperform the Aussie. Concerning the orders placed 100 pips from the spot, there are now significantly more commands to sell—23% after yesterday's 55%.
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