© Dukascopy Bank
- Commonwealth Bank (based on the Australian)
Pair's Outlook
As expected the pair continued appreciating at the beginning of today's trading session. Although, at the second part of the day the Aussie received a bearish impetus at 0.9450 and dipped below the 20-day SMA and weekly PP around 0.94. At the moment of writing the currency pair is fluctuating around the monthly PP at 0.9368. The next target for pair's bears is the 55-day SMA just below the monthly PP. Moreover, this level for most of the time has caused problems for the pair's bears in June and July.
Traders' Sentiment
The gap between the bearish and bullish SWFX traders is little changed, as 54% of them are bullish. The distribution between the buy and sell orders is rather wide—64% and 36% respectively.
© Dukascopy Bank