© Dukascopy Bank SA
"It was a bit of a double whammy for the Aussie dollar. Disappointment over the ongoing US political wrangling is part of it, but there was also some surprisingly weak Chinese exports data on the weekend. Both of those tend to raise concerns about global growth and both of those concerns have taken a pretty sharp toll on the Aussie dollar which has opened the week about half a cent lower.''
- Bank of New Zealand (based on The Australian)
Pair's Outlook
Pair has been capped by the 95 cent level for quite some time, but as we can see, it started the week with clear intention to advance above it. Main obstacle for that should be September high at 0.953. Pair's advancement above it would uplift most of the downside risk. Some bearishness could be caused by 0.959, but it should not cause any major sell offs. In order to negate this bullishness the apir should dip below 0.94.
Traders' Sentiment
Market sentiment itself became slightly more bullish after the weekend. Long traders account for 65% of market participants (3% more than on Friday). It seems that this change is coming from triggering of pending orders as bullish side of them decreased by 6% and is at 59% gauge.
© Dukascopy Bank SA