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"The RBA statement today has made some emphatic steps away from their previously dovish stance to a neutral stance. On balance this is a bigger shift than may have been expected and should continue to boost the Australian dollar."
- RBS (based on The Australian)
Pair's Outlook
Pair bounced off the weekly PP and at the moment is testing weekly PP/55-day SMA around 89 cent mark. If the pair fails here we could expect a sell off till 0.8836/06 area. In case of a further recovery at least some bearishness could be expected at 0.8975/0.9011 as a rally till the 2014 high at 0.9086 seems a bit unlikely at the moment.
Traders' Sentiment
Virtually no change is observed in the market sentiment. Bulls continue to hold 70% of all of the open positions. Clear majority (70-80%) of pending orders remain in favor of the bears suggesting we might see some major changes soon.
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