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The Reserve Bank of Australia needs to balance better conditions in China and the U.S. with uncertainty about Europe, soggy domestic conditions and a firm Aussie dollar."
- CommSec (based on The Wall Street Journal)
Pair's Outlook
Pair started session with an attempt to advance above 1.04 mark, but was pushed back to 1.035. However, it managed to return to session opening level at around 1.038 where it currently is trading. Most of the technical indicators give neutral outlook on the pair suggesting it will be mainly driven by market sentiment which points at a bullish rally of the pair.
Traders' Sentiment
Clear majority of the market participants are bullish on the pair—73% of them hold long positions on the pair. Distribution of pending orders does not suggest any major changes in the near future as only slim majority, 51% to be exact, of traders have posted long orders on the pair.
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