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"The RBA minutes are likely to put a little bit of downward pressure on the Aussie because they're likely to indicate the RBA is still open to further easing."
- Commonwealth Bank of Australia (based on Bloomberg)
Pair's Outlook
Since the beginning of new trading week pair has been rather volatile deviating somewhat between Bollinger band and weekly PP. It is highly likely pair will be so volatile for a few upcoming days, but medium term outlook is rather negative as Stochastic indicator predicts that pair is moderately overbought and we are up for bearish correction.
Traders' Sentiment
It seems that Pacific/Asia region currencies weren't influenced by recent elections in Japan at all. Same amount as in last week, 70% to be exact, hold short positions on the pair. There is same amount of outstanding pending long orders as well—55%.
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