© Dukascopy Bank SA
- Westpac (based on Bloomberg)
Pair's Outlook
After the decline on Monday the Aussie has managed to recover and even to gain against the greenback. At the moment the pair is trading above the 0.93 level and is attacking the weekly R1 at 0.9347. The technical indicators are mixed; however, the longer term technicals are to the downside. If the Australian currency breaks the next target (weekly R1) then it might even approach the weekly R2, monthly R1 and recent highs around the 0.94 level.
Traders' Sentiment
The sentiment towards the pair is split between its bulls and bears, indicating on traders uncertainty regarding the pair. Concerning the orders placed 100 pips from the spot, there are now slightly more commands to sell—68%.
© Dukascopy Bank SA