© Dukascopy Bank SA
"Russia's central bank buying the Australian dollar perhaps means the market has become more visible to borrowers like VTB. It also suggests the Aussie market is becoming more sophisticated in its view on global credits."
- Nomura Holdings Inc. (based on Reuters)
Pair's Outlook
As predicted, pair tried to reach new high, but the first resistance at weekly pivot at 1.0476 managed to bring it down. For the time being pair should be rather calm, but it is very likely it will try to step up closer to 1.05 sometime this week or at the beginning of the next week.
Traders' Sentiment
Additional 4% of market participants went short on the pair and at the moment almost three out of four market participants hold short positions on the pair. In addition, 54% of pending orders on the pair are to go short suggesting bears will be dominating in the market in the nearest future.
© Dukascopy Bank SA