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- Credit Agricole (based on MarketWatch)
Pair's Outlook
Just recently the currency pair dipped down to 1.0385/75, thereby testing the 200-day SMA, and quickly returned back to 1.0419, the 100-day SMA. Accordingly, if the price is to decline in the future, the main obstacle will be represented by the 200-day SMA. Once it is overcome, however, prolonged bullish corrections are unlikely until the down-trend support line at 1.0122 is reached.Traders' Sentiment
The portion of bears has slightly increased since yesterday, as the current portion of short positions is 68%, whereas bulls are 32% of the market and thus stay in a distinct minority. As for the orders, the situation is reversed—61% of them are to acquire the Aussie and 39% are to sell it against the greenback.
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