© Dukascopy Bank SA
"If we have all the big fellows in the room firing their shots it's the small guys such as Australia, Canada and South Africa that can get caught in the cross fire. We've seen that overnight as the [Aussie dollar] has been rising so aggressively against its major trading partners."
- Westpac Banking Corp. (based on The Wall Street Journal)
Pair's Outlook
Yesterday the pair lost some of its momentum when it did not manage to breach weekly R2 at 1.5885. Although bullish impetus is still present and rather strong in the pair it has been appreciating at a much slower pace as some pressure from Bollinger band is keeping it on leash. Although Stochastic indicator suggests that we might see some bullish action soon, the %K and %D are not that deep in the overbought area and haven't crossed either.Traders' Sentiment
Share of bears increased by further 2% as they hold 74% of all open positions on the pair. Slightly more pending orders on the pair are to go short (53%), but it is highly unlikely it might cause any major shifts in market sentiment in the nearest future.
© Dukascopy Bank SA