© Dukascopy Bank SA
"Australia is almost starting to look like it's going from gloom to boom. That may be a bit premature, but the run of mostly positive data over the past week indicates the economy is weathering the mining investment slump well."
- AMP Capital (based on The Australian)
Pair's Outlook
Pair tried to extend it's gains further, but failed at 200-day SMA and at the moment is trading slightly below 91 cent mark. However, we expect it to test the strength of 200-day SMA at least once more. In case it fails the pair should consolidate around 91 cents, but any major bearish actions seem very unlikely. In case it manages to peak above the 200-day SMA, we should start looking at monthly R2.
Traders' Sentiment
Changes in sentiment are rather marginal and do not point at any long term trends. Bullish side of open positions contracted by 3%, till 56% overall, but pending positions expanded by 5-10%, till 68-77% depending on the range.
© Dukascopy Bank SA