© Dukascopy Bank SA
- RBA minutes (based on The Australian)
Pair's Outlook
Pair is not demonstrating any clear bias and just jumping up and down between 100-day SMA and weekly PP/monthly R1. It is highly unlikely we will see something substantially different in the nearest future, however, a solid close above/below any of the mentioned levels could provoke a substantial rally/sell off. In such case we should star looking in to resistance around 200-day SMA and support around 20 and 55-day SMAs.
Traders' Sentiment
Market sentiment changed marginally—bullish side decreased by 2% and is at 63% gauge today. Bears, however, are increasing their pressure on their counterparts. Bullish side of pending orders contracted by 10-15% and is at 36-49% gauge today.
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