© Dukascopy Bank SA
- Royal Bank of Scotland Group Plc (based on Bloomberg)
Pair's Outlook
The price stays in a narrow corridor between a wide but nevertheless dense resistance area at 1.0624/1.0575 and a support line at 1.0534/33, reliability of which is still under question. Therefore we view an eventual emergence of a dip as a probable course of events with the nearest target set at 1.0469/39. Additional weakness will encounter supports at 1.0402/1.0398 (100-day SMA) and 1.0338/1.0293 (200-day SMA).
Traders' Sentiment
SWFX traders' sentiment is unchanged from the last report with a clear prevalence of short positions over the long ones. The former ones are found in 73% of cases, whereas only 27% of the market participants believe the Aussie is about to appreciate relatively to the greenback.
© Dukascopy Bank SA