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"Currency markets went into the weekend optimistic a resolution on the US debt ceiling was imminent."
- ANZ (based on AAP)
Pair's Outlook
Pair started the week with a bounce from 20-day SMA/weekly PP. At the moment it seems that such bullishness will persist and 0.838 should be tested soon. Advancement above it would put September high on the map. It should not give up easily and might cap the pair for some time. In case the pair fails at 0.828 and dips below 83 cents we could see it drifting to 200-day SMA at 0.818 area.
Traders' Sentiment
No significant change can be noticed neither in the distribution of open positions or pending orders. The latter ones remain at 64% being set in favour of the bulls. Bulls, however, account only for 28% of market participants.
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