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- Deutsche Bank (based on the Australian)
Pair's Outlook
The Australian Dollar has plummeted below the August low at 0.9239; however, it still trades above the 200-day SMA at 0.9227, after yesterday's retreat below the 0.93 level. The pair has completely lost its bullish momentum, which the Aussie demonstrated last week. At the mean time, the daily and weekly technical indicators are pointing to the north, thus suggesting that a rebound from the current decline might occur.
Traders' Sentiment
With the recent losses the sentiment is increasing and at the moment the amount of the pair's bulls and bears are almost identical, 49% and 51% respectively. In the meantime, the share of sell orders grew from 42% up to 65%.
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