© Dukascopy Bank SA
"Most models -- including the staff's internal models and the IMF's models suggest the exchange rate is overvalued by 4-15 percent."
- Reserve Bank of Australia (based on Bloomberg)
Pair's Outlook
Pair received a bullish impetus from 1.018 yesterday an managed to inch up to 1.029, but weekly PP/20-day SMA were too tough of a challenge and pair is back at monthly S2. Daily and monthly technical suggest that overall trend should remain bearish, but only rather a few of them give conclusive readings.
Traders' Sentiment
Shares of bulls and bears in the market are remaining almost equal for the second day in a row. It seems that such situation might last for quite some time as pending orders are almost equally divided between long and short traders as well.
© Dukascopy Bank SA