© Dukascopy Bank SA
- OANDA Asia Pacific (based on the Australian)
Pair's Outlook
The Aussie is starting to show some minor bullishness after it touched the March low and weekly S1 at 0.8891/69. However, there are still no clear evidence of possible strengthening. The daily and monthly technical studies remain bearish, thus supporting the pair's bears. If the pair fails to consolidate around the current level then the next key support is December low and weekly S2 at 0.8822/00. To our mind, these levels should keep the pair from falling lower.
Traders' Sentiment
The sentiment has returned to level that we saw on Monday, namely 55% of the SWFX traders are bullish for the time being. Concerning the orders placed 100 pips from the spot, there are now significantly more commands to buy—61%.
© Dukascopy Bank SA