Note: This section contains information in English only."(Thursday's fall in the dollar) tells us that there still is a lot of scepticism over imminent rate hike by the Fed in the market. There is still room for some dollar weakness."
– Commerzbank (based on Reuters)
Pair's Outlook
[ANNOUNCE]On Thursday the Australian currency continued to gain value against the American Dollar, but with gains limited by the 55-day SMA at 0.7557.[/ANNOUNCE] Today, however, risks are skewed to the downside, as technical indicators are giving bearish signals in the daily timeframe. A strong demand area rests circa 0.7505, represented by the 100-day SMA, the Bollinger band and the weekly S1, which is unlikely to let the Aussie drop lower that easily. In case of a bullish development the 0.76 major level is likely to be the ceiling, where the weekly and the monthly PPs form a rather solid resistance.
Traders' Sentiment
There are 54% of traders with a positive outlook towards the Aussie, compared to 55% on Thursday. At the same time, the number of orders to sell the Antipodean currency increased from 31 to 56%.
Fri, 02 Sep 2016 14:10:04 GMT
Source: Dukascopy Bank SA
– Commerzbank (based on Reuters)
Pair's Outlook
[ANNOUNCE]On Thursday the Australian currency continued to gain value against the American Dollar, but with gains limited by the 55-day SMA at 0.7557.[/ANNOUNCE] Today, however, risks are skewed to the downside, as technical indicators are giving bearish signals in the daily timeframe. A strong demand area rests circa 0.7505, represented by the 100-day SMA, the Bollinger band and the weekly S1, which is unlikely to let the Aussie drop lower that easily. In case of a bullish development the 0.76 major level is likely to be the ceiling, where the weekly and the monthly PPs form a rather solid resistance.
Traders' Sentiment
There are 54% of traders with a positive outlook towards the Aussie, compared to 55% on Thursday. At the same time, the number of orders to sell the Antipodean currency increased from 31 to 56%.