© Dukascopy Bank SA
- Bank of Montreal (based on Bloomberg)
Pair's Outlook
The Australian Dollar plummeted towards the recent low at 0.9240 today; however, the currency bounced back closer to the weekly PP at 0.9299 later today. With today's move the pair proved that it is not ready to trade around the lower boundaries of the 0.92 level. Nonetheless, the monthly technical studies are pointing to the south. Also, we are sceptical on the Aussie's possible appreciation from the current levels, as to our mind its decline towards the 0.92 level seems more likely.
Traders' Sentiment
At the moment of writing 54% of the SWFX market participants are expecting the Aussie to lose value against the Greenback. Meanwhile, the share of sell orders grew from 54% up to 56%.
© Dukascopy Bank SA