© Dukascopy Bank SA
- Commonwealth Bank of Australia (based on Bloomberg)
Pair's Outlook
The Aussie dropped to the lowest level in more than four years today, as it dipped below the 0.81 mark. However, it managed to rebound and at the time of writing it is hovering above the 0.81 level. Nonetheless, a majority of the short-term (daily) technical indicators are still negative, thus there still is a risk of a decline lower. The possibility of the pair breaching the weekly PP at 0.8176 is rather low.
Traders' Sentiment
A considerable majority of traders stay optimistic with respect to the single Australian currency. Right now as many as 71% of them expect it to gain value against the U.S. Dollar. In the meantime, the share of buy orders dropped back below 30%.
© Dukascopy Bank SA