© Dukascopy Bank SA
- Bank of New Zealand (based on news.com.au)
Pair's Outlook
The Aussie prolonged its climb against the greenback to one week, right now it is attacking the next resistance level (the weekly R1) at 0.9386. Even though the advance is modest and mostly without sharp moves the pair is already trading close to the major level, May high and monthly R1 at 0.9400/10. To our mind it is unlikely that pair could break this resistance level and to appreciate towards the 2014 high at 0.9461. We expect the Aussie to fall towards the semi-major level at 0.9350 after reaching the 0.94 level.
Traders' Sentiment
The bullish sentiment towards the Aussie dropped significantly, at the moment of writing only 25% sees the Australian currency appreciating towards the greenback, after yesterday's 48%.
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