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"The Aussie now reverts its attention to the upcoming RBA meeting and the US fiscal cliff issues. We've gone from one risk event to another which is probably more pressing."
- Easy Forex (based on Herald Sun)
Pair's Outlook
After rebounding from 1.0479 pair dipped down to weekly PP at 1.0421 where it received a bullish impetus and at some point have climbed 35 pips and at the moment is trading at 1.045. Technical indicators give mixed signals, but attention should be paid to the Stochastic indicator which point at depreciation of the pair.
Traders' Sentiment
Pessimism about pairs future is still in the air as overwhelming majority of traders, 74% to be exact, hold short positions on the pair. Distribution of pending orders does not predict any major shift in market sentiment as it is distributed 43% to 56% between bulls and bears respectively.
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