© Dukascopy Bank SA
- Macquarie Group Ltd. (based on Bloomberg)
Pair's Outlook
The Australian Dollar continues its downward movement by approaching the weekly and monthly S1s at 0.8427/0.8395. Moreover, most likely the previously mentioned will not stop the selling pressure and the pair will continue to slide below the 0.84 level. The weekly technical indicators are also seeing the pair to decline lower. The pair has not lost much of its value this week; although, it is reaching lower and lower levels this year.
Traders' Sentiment
While there is a clear advantage in the number of longs (74% of the market), 100 pips from the spot a majority of the commands is to sell the Aussie against the Swissy. While 50 pips from the spot the dominance of bearish orders is even bigger, namely 74%.
© Dukascopy Bank SA