© Dukascopy Bank SA
"Mr Stevens is not going to say the Aussie is at fair value or anything like that. He will be unloading on the Aussie dollar again, but whether the market chooses to listen to him is another question."
- Arab bank (based on The Australian)
Pair's Outlook
Pair spent last four days testing and bouncing off the 100-day SMA. We do not see any indications that beginning of the new week could bring anything substantially different. Unless it opens below the 100-day SAM or above the cluster of technicals at 0.9423/56. Both of the seems to be keeping the pair range bound lately. Peak above the boundaries would put November high on the map, whilst dip below it could ignite a sell off till 0.9111.
Traders' Sentiment
Market sentiment itself remains at 70% of being bullish. Distribution of pending orders changed by a marginal 4%, but it could be indicating a longer term trend since it moved from being perfectly evenly distributed between the long and short term traders to 54% being set in favour of the bears.
© Dukascopy Bank SA