USD/CAD testing 0.985

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Source: Dukascopy Bank SA
© Dukascopy Bank SA
"It won't be for a lack of data but the market itself is myopic with respect to Jackson Hole and it's long on anticipation and it's short on tolerance."
-Jack Spitz, National bank financial (based on Reuters)

Pair's Outlook
Pair continues to depreciate and is trying to breach 0.985 today. Although pairs outlook is neutral, but technical indicators support possibility of further depreciation of the pair, which is very likely as in 50 pip range below 0.985 mark there are no significant support levels.

Traders' Sentiment
Trader sentiments remains bullish and hovers above 70% gauge for two and a half weeks. Distribution of pending orders does not suggest any bigger changes in near future as well since buy and sell orders are almost in perfect equilibrium.

© Dukascopy Bank SA
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Actual Topics

Wed, 29 Aug 2012 15:01:46 GMT

NZD/USD breaches 0.8037

Pair continues depreciate and breaches Double Top pattern's support level at 0.8037. Pairs outlook is mildly positive, more and more indicators start giving buy signals so it is highly likely we will see a push upwards from cluster of support levels around 80 cent mark. 

Wed, 29 Aug 2012 15:01:26 GMT

AUD/USD advances for second day

Pair bounced from monthly PP, but 1.0401 provided enough resistance to slow down pairs advancement further.  Although pairs outlook is neutral in the short term, the Stochastic indicator supports the probability of pair gaining momentum and advancing further.

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