© Dukascopy Bank SA
- St. George Bank Ltd. (based on Bloomberg)
Pair's Outlook
Despite the presence of the falling resistance line the Aussie was not discouraged and kept on appreciating, leading to a rally that now endangers not only intactness of 0.9040, but also intactness of the 55-day SMA at 0.9091 and the monthly R1 at 0.9141. In case the mentioned levels give in, the highs that played a notable role early 2009 and late 2010 may soon be challenged.
Traders' Sentiment
Following the news on the accelerating Australia GDP growth rate the SWFX market participants did not alter their positioning to a significant degree despite the exchange rate moving quickly upward amid the event. Currently 71% of positions are long and the remaining 29% are short ones.
© Dukascopy Bank SA