© Dukascopy Bank SA
- CMC (based on the Australian)
Pair's Outlook
This week the only significant move was yesterday's retreat; however, at the same time the pair has manage to appreciate and at the moment is hovering around the major 0.94 level. Most likely this will be important level and it might be a turning point for this pair. If the Aussie will fall below the monthly PP at 0.9369 that might encourage a sell-off and it is possible that the pair slides towards the 0.93 mark. The technical indicators are mixed and that definitely adds uncertainty.
Traders' Sentiment
Market sentiment remains unchanged as bulls continue to hold 55% of all of the open positions on the pair. The gap between the buy (30%) and sell (36%) orders placed 100 pips from the spot is more significant at the moment.
© Dukascopy Bank SA