© Dukascopy Bank SA
- ANZ Bank (based on The Wall Street Journal)
Pair's Outlook
Pair's sell off last week broke through the 100-day SMA and at the moment is trying to return above it. It seems unlikely the pair will succeed to do so, not at the first try at least. By doing so it might be sold off till 81 cent mark. That's were median expectation of major market participants for this quarter is located. Dip below it seems highly unlikely at the moment. In case of an unexpected rally the pair should advance above 83 cent mark to uplift most of the risk.
Traders' Sentiment
Bulls are strengthening their presence in the market, but they are quite far away from dominance. They hold 31%, 4% more than on Friday, of open positions. Bullish side of pending orders increased by 20-25% and is at 25% to 46% level depending on the range.
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