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"The RBA's November minutes could give insight on how close they were to easing."
- UBS (based on The Wall Street Journal)
Pair's Outlook
Pair is continuing its dip. At the beginning of the session it seemed it might recover some of the losses, but already 55-day SMA became an unreachable level for the pair. It pushed the pair, which is being held by Bollinger band at the moment, down by almost 50 pips. Outlook on the pair is neutral, therefore a lot of responsibility for keeping the pair stable stays on the Bollinger band. Otherwise, we could be certain to see additional dip to 1.0260.
Traders' Sentiment
An overwhelming majority of market participants (70%) continue to hold short positions on AUD/USD which can be seen from recent performance of the pair. In addition, surprisingly, majority of pending orders on the pair are to go short (58%).
© Dukascopy Bank SA