© Dukascopy Bank SA
- BNP Paribas (based on the Australian)
Pair's Outlook
The Aussie is fighting the monthly R1 at the moment, after yesterday when the pair received a bullish impetus from the weekly S1 at 0.9338. In short term we think the pair could touch the weekly R1 at 0.9441 and possibly this year high at 0.9462. Nevertheless, it is not likely that the pair could set a new high this year, we expect the Aussie to move slightly above the weekly R1. However, in the longer term we see the Australian Dollar declining towards 0.9350 level.
Traders' Sentiment
The sentiment towards Aussie rose by 10%, at the moment of writing 40% of SWFX market participants are bullish. Bullish side of pending orders, however, contracted by 5% and is at 63% today.
© Dukascopy Bank SA