© Dukascopy Bank SA
‘‘The foreign exchange market is perhaps another area in which investors should take care. It seems quite likely that at some point in the future the Australian dollar will be materially lower than it is today.''
- Reserve Bank governor (based on The Sydney Morning Herald)
Pair's Outlook
Pair continues to depreciate after the failure at 0.959. It has already dipped below September high and at the moment is trading just slightly above the weekly S1. Dip below it would put 0.9366 on the map as pair spend more than a week hovering above it before the rally few weeks ago. Failure at 0.9366 could provoke a sell off to 0.9259.
Traders' Sentiment
Bullish side of pending orders decreased by 13% and is at 62% today. It seems that most of this change went to the bullish sentiment as share of bulls in the market increased by 5% and is at 65% gauge.
© Dukascopy Bank SA