© Dukascopy Bank SA
- National Australia Bank (based on the Australian)
Pair's Outlook
After Aussie's nine straight day advance that ended last Friday the pair has depreciated slightly and currently the pair is trading around the weekly PP at 0.9387. Today the Aussie attacked the monthly R1 at 0.9410; although, the attack was unsuccessful and the Australian currency dropped back below this level. In overall, the technical indicators are neutral, with slightly bullish weekly outlook and slightly bearish monthly outlook. We suspect the pair to weaken towards the weekly S1, but most likely the decline will be steady.
Traders' Sentiment
Market sentiment remains unchanged as bears continue to hold 71% of all of the open positions on the pair. In the meantime, the share of buy orders decreased from 81% down to 68%.
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