© Dukascopy Bank SA
"The Australian dollar was quick to react, ascending a tenth of a cent. Continued support for the Australian dollar at this level will be dependent on how much longer the US standoff will last."
- CMC Markets (based on Sky News)
Pair's Outlook
At the moment the pair seems evenly capable of dipping to Fibo 38.2% retracement which was tested last week and peaking up to September high. If it dips below the Fibo 38.2% we could expect it to trail to 0.923 where they key support/resistance seems to be residing. However, we think that pair should retest the September high. We don't expect it to succeed at first but overall bullishness seems plausible.
Traders' Sentiment
Market sentiment itself is exactly the same for the past few days now—65% of traders hold long positions on the pair. The only change is in the distribution of pending orders. Bullish side of the decreased by 5% and is at 65% today.
© Dukascopy Bank SA