© Dukascopy Bank SA
"The Australian dollar was in sliding mode today with investors across Asia taking on a defensive mindset after the earnings miss by Apple, as well as the fact that the U.S. GDP print tonight could create an extension of the current risk-off environment through to next week if we get a result lower than the forecast."
- CMC Markets (based on The Wall Street Journal)
Pair's Outlook
Pair is ferociously trying to advance above 1.04, however, monthly pivot (PP) does not allow it to do so and every time pair returns to 100 bar SMA for the time being. New week should not be much of a different—pair should continue appreciating by 10-20 pips in a session. Situation should become completely different once pair breaches monthly pivot (PP).
Traders' Sentiment
For the third day in a row open positions on the pair are evenly distributed between long and short traders making market sentiment neutral. Distribution of pending orders buy orders increased by 5% since yesterday and is at 55% mark suggesting possible changes in market mood in the new trading week.
© Dukascopy Bank SA