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"Early indications around retail spend in the US is that average spend is up. Equities are up on the back of that."
- ANZ New Zealand (based on Bloomberg)
Pair's Outlook
For tried trading session pair tried to step up higher but did not manage to breach 0.825 and at the moment is supported only bu monthly pivot (PP0 at 0.8218. Technical indicators suggest that this dip should persist some time more, but it should take some time for the pair to breach a cluster of support levels at 0.82. A possible bounce from this level cannot be forgotten as well.
Traders' Sentiment
Not much changes are observed in market sentiment after the weekend—amount of bears in the market decreased by mare 1%, but is still firmly above 70% share. Share of pending buy orders is at 54% suggesting that we might see some increase in bulls in the market.
© Dukascopy Bank SA