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"In the near term, I'm mildly bearish [on the Australian dollar]. […] You do have an RBA governor that's quite dovish."
-Commonwealth Bank (based on The Sydney Morning Herald)
Pair's Outlook
Pair was posing for a dip, but received a push up from 1.02 and is currently hovering slightly above weekly PP at 1.02041. However, pair is showing substantial downside risk and is likely to attempt to breach cluster of support levels at 1.0160 some time soon.
Traders' Sentiment
A substantial majority (68%) of market participants are waiting for the Australian Dollar to gain value relatively to its U.S. counterpart, while 32% of traders believe in an alternative scenario. Distribution between buy and sell orders placed on the pair is 45% to 55%, accordingly.
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