© Dukascopy Bank SA
- FXCM (based on the Australian)
Pair's Outlook
The Aussie fluctuated between the monthly R1 (at 0.9415) and the weekly PP (at 0.9380) this week. However, today the pair approached the weekly R1 at 0.9437, but it failed to consolidate there. The daily and weekly technical indicators suggest that there will be a further appreciation, even though the pair is already trading around this year's high (at 0.9462). Nevertheless, we are not that bullish on the pair as we expect it to slip lower towards the weekly PP after attacking the 2014 high.
Traders' Sentiment
The portion of bears won two percentage points and still an overwhelming majority of traders expect this Aussie advance to come an end , specifically 73% of them.
© Dukascopy Bank SA