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"Main driver for the Australian dollar early in the week would be ongoing negotiations between eurozone finance ministers concerning a possible write-down of Greece's debt."
- HiFX (based on The Australian)
Pair's Outlook
Pair has started the week fairly neutrally staying in 25 pip range and closing pretty much in opening prices. It seems that 1.047 once again will be unreachable level for the pair, but it is still unclear if 1.042 or 1.040 will be the main support areas.
Traders' Sentiment
After a major market shift in the end of the last week 72% of traders continue to hold short positions on the pair. Distribution of pending orders tries to outweigh this move expecting rebound as 60% of all pending orders are to go long.
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