© Dukascopy Bank SA
- Royal Bank of Canada (based on the Australian)
Pair's Outlook
Today the Aussie tested the major level at 0.94; however, it was unable to break this level. This level could become a psychologically hard level to break as previous pair's advance was stopped around this level last week. In our opinion we could see a consolidation around current levels, this scenario is also supported by the technical studies as. Although, if the pair slides below the monthly PP and 100-day SMA then a decline towards 0.93 is likely.
Traders' Sentiment
For a third straight day the sentiment towards the pair's advance keeps falling. Nonetheless, at the moment of writing 57% of the SWFX traders are bullish. The distribution between the buy and sell orders is less stable—34% and 66% respectively.
© Dukascopy Bank SA