© Dukascopy Bank SA
- Westpac Banking Corp. (based on Bloomberg)
Pair's Outlook
Today the pair continues to gain, as it reached the weekly pivot point level at 0.9682. A bearish trend, which proceeded last week, was suspended by the 20-day SMA at 0.9607 and this level remains the major support in case of additional downward pressure, as it separates bullish and bearish side in the Bollinger bands.
Traders' Sentiment
Most of investors have bearish positions, being that the sell side amounts to 60%. Traders keep their expectations of a further depreciation, but the advantage is rather fragile. However, pending orders segment has opposite sentiments, since the majority of orders are placed on the bulish side and form a 63% share.
© Dukascopy Bank SA