© Dukascopy Bank SA
- Standard Chartered (based on Bloomberg)
Pair's Outlook
Last week the Aussie breached the 0.93 level with a sharp advance on Wednesday; moreover, afterwards it strengthen its positions with a close above the 0.93 mark. At the moment, it seems that the pair might consolidate around the current trading levels as it have not showed any indications of continuous appreciation, also the daily technicals are neutral. However, when the pair gains momentum it should look towards approaching the 100-day SMA and weekly R1 at 0.9341/50.
Traders' Sentiment
The pair's bullish sentiment rebounded to 54%, after it was 4% lower on Friday. At the same time the gap between the buy (51%) and sell (49%) orders is narrowing.
© Dukascopy Bank SA