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"This can be viewed as a covert and passive intervention in the Australian dollar of modest proportions, but nevertheless is a clear signal of a change in the RBA's view and intentions."
- ANZ Bank (based on The Wall Street Journal)
Pair's Outlook
Pair did not manage to brake 100 bar SMA boundaries and is posing for a serious dip while being supported only by weekly pivot (PP). Pair should depreciate some more, with next serious stop being at 1.03 where we should find 20 bar SMA once pair gets there.
Traders' Sentiment
After three days of uncertainty week opened with bear dominating in the market—share of short positions in the market is at 60% mark. However, share of pending buy orders in the market increased as well—it is at 59% gauge.
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