© Dukascopy Bank SA
- FXCM (based on the Australian)
Pair's Outlook
The Aussie has not enough of bullish momentum to breach the weekly PP and monthly S1 at 0.8649/59 for the time being. However, it also seems as the pair is more likely to consolidate around the current levels than to decline towards the 0.85 level. Nonetheless, there are certainly more bearish than bullish risks at the moment, with the daily and weekly technical studies being to the downside.
Traders' Sentiment
An overwhelming majority (74%) of the traders continue to think that the Aussie is going to regain its bullishness and increase in value relative to the US peer. In the meantime, the share of sell orders slipped from 55% down to 54%.
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