© Dukascopy Bank SA
- UBS (based on MarketWatch)
Pair's Outlook
Being well-supported by the falling trend-line at 0.8950, the currency pair managed to rise back up to 0.9092/51, which consists of the weekly R1 and 100-day SMA. However, there is also a significant obstacle overhead represented by the 200-day SMA at 0.9148, which is highly unlikely to let the Aussie to appreciate further, as shown by the weekly and monthly technical indicators.
Traders' Sentiment
The sentiment with respect to the Australian Dollar slightly improved overnight, as the portion of long positions increased from 63% to 65%. As for the pending orders, the percentage of the sell ones dropped, from 72% down to 62%, suggesting that resistance nearby is weakening.
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