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- RBA Governor Glenn Stevens (based on Bloomberg)
Pair's Outlook
The Australian Dollar failed to consolidate above the 0.85 earlier today, when the currency rose against the US peer. Moreover, the pair is trading very close yesterday's low that happen to be the lowest level this year. Nonetheless, we think that the pair is likely to decline even lower and current low almost certainly will not be the lowest level this year. The daily and weekly technical studies are as well pointing to the south.
Traders' Sentiment
An overwhelming majority of the SWFX market participants consider the Aussie. Dollar to be undervalued relative to the US counterpart. Right now 73% of traders are long the Aussie, while merely 27% of them believe the currency is going to fall in price even more.
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