© Dukascopy Bank SA
- Eisuke Sakakibara, Mr. Yen (based on Bloomberg)
Pair's Outlook
The Australian Dollar remained almost flat against the Greenback by mid-day on Monday. However, the currency exchange rate previously fell below the 11-month up-trend during Friday's trading session. Various hints combined support the hypothesis of the Aussie losing more ground to the US Dollar. Daily aggregate technical indicators forecast that the pair will end the day lower. Moreover, the pair is set to meet with the 200-day SMA, which by mid-Monday was located at 0.7510. However, the recently calculated average weekly technical indicators forecasts a jump fort the pair, which means that it is likely to rebound against the previously mentioned SMA.
Traders' Sentiment
Traders remain short, namely 34% of open positions are short. In the meantime, 57% of trader set up orders are to sell the Aussie.
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