© Dukascopy Bank SA
- Bank of Montreal (based on Bloomberg)
Pair's Outlook
The Australian Dollar strengthened its positions above the 0.93 level, as the currency continued to appreciate higher. However, the most significant move occurred yesterday when the Aussie dropped towards the 0.9240 level. The next target could be the 100-day SMA and weekly R1 at 0.9342/50, these resistances together with 55-day SMA and monthly PP slightly higher could be the real indicator whether the pair is poised to climb towards the 0.94 level.
Traders' Sentiment
The pair's sentiment remains slightly bullish, with 54% of the SWFX market participants being bullish. Concerning the buy and sell commands placed, their numbers are almost completely identical at the moment, as 51% are set to buy.
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