© Dukascopy Bank SA
- Rareview Macro LLC (based on the Bloomberg)
Pair's Outlook
Already for nine trading days the pairs has been consolidating around the weekly PP at 0.9367. We expect the currency pair to lose value as it is trading around rather high levels and it seems it is not ready yet to appreciate higher. The technical indicators do not say much as they are largely mixed. The Aussie could depreciate towards the weekly S1, 20-day SMA and monthly PP at 0.9325/16; however it will be much harder to break this level, because of its significance.
Traders' Sentiment
Market sentiment remains unchanged as bears continue to hold 57% of all of the open positions on the pair. In the meantime, the share of sell orders grew slightly from 32% up to 33%.
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