© Dukascopy Bank SA
"The bias is definitely up and if we start getting some firmer data both domestically and in China, we'll see odds of a cut coming right back. If that occurs, the Aussie will spring higher."
- Arab Bank Australia (based on the Economic Times)
Pair's Outlook
Pair once again tried to advance, but did not manage to stay above weekly pivot (PP) at 1.0378 for long. At the moment it is hovering slightly below 100 bar SMA at 1.0367. It might be that pair will try to step up once more, but it becomes evident that bearish dip, pointed out by Stochastic indicator, is just around the corner.
Traders' Sentiment
Amount of bears in the market decreased by 3%, but they continue to hold majority (57%) of positions on the pair. Pending buy orders decreased by 4% (most likely they were activated and contributed to 3% change in bulls holding) and is at 56% mark today.
© Dukascopy Bank SA