© Dukascopy Bank SA
"The Aussie has popped in a very short-term market reaction. The consistent approach that will be executed by the current administration is positive. The one thing we don't need these days is uncertainty."
- Scotiabank (based on Bloomberg Businessweek)
Pair's Outlook
Pair started day promisingly, but did not manage advance much further than monthly pivot (R1) at 1.0472 and was pushed back in to the Bollinger band boundaries. However, this should be just a temporary setback and upcoming sessions should be much smoother and with clearer trend.
Traders' Sentiment
Bears not even continue to dominate in the market, but increased their holdings by additional 2% since yesterday and hold 75% of positions in the market. However, 53% of all pending orders on the pair are to go long suggesting we might see some redistribution of positions in the near future.
© Dukascopy Bank SA