© Dukascopy Bank SA
- Easy Forex (based on AAP)
Pair's Outlook
The Aussie has managed to outperform the US counterpart despite the majority of the technical indicators being to the downside. As mentioned the daily and especially weekly technical studies are bearish, while the monthly ones are neutral. If the pair sustains its positions above the 0.87 level it could even approach the monthly PP at 0.8785; although, we are sceptical on that to happen. We see the pair sliding below the 0.86 mark.
Traders' Sentiment
At the same time the traders' are strongly bullish on the pair, as many as 74% of them have opened a long positons with a expectance of an advance. In the meantime, the share of sell orders grew from 57% up to 58%.
© Dukascopy Bank SA