© Dukascopy Bank SA
- Westpac (based on The Australian)
Pair's Outlook
Today the Aussie takes a breath after a huge jump yesterday. The price appreciated from the monthly R1 at 1.0388 to the weekly R1 at 1.0440 during yesterday's trading hours. Today the pair is very calm and consolidates just around a 1.0440 level. A downside scenario might include a retest of the SMAs at 1.0404 and, in an upside case, the pair will face totally free area with the next resistance only at 1.0528, the weekly R2.
Traders' Sentiment
Recent appreciation forces traders to close their short positions, providing a small share in SWFX market. Bears reduced their sentiments by 3% to 71% in total. Bulls are in the lead of placed orders segment, as 67% are orders to buy.
© Dukascopy Bank SA