© Dukascopy Bank SA
- ThinkForex (based on the Australian)
Pair's Outlook
It seems that the Aussie is starting to lose its allure; therefore, it has failed to surpass the weekly R2 at 0.9460 thus far. To our mind the Aussie is hovering near the top; however, there is a possibility that the pair might reach the 2014 high at 0.9506 if it closes above the weekly R2. The monthly technical indicators are pointed to the south; therefore, a retreat might be expected in the longer run. We are also rather sceptical about the pair reaching new high.
Traders' Sentiment
The sentiment has dropped significantly since yesterday. At the moment only 29% of the SWFX traders are bullish; however, yesterday this number was at 52%. The distribution between the buy and sell orders widened—62% and 38% respectively.
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