© Dukascopy Bank SA
- Westpac Banking Corp. (based on Bloomberg)
Pair's Outlook
It seemed that the pair is planning to test 5 month high at the end of the last week. However, it failed to gain momentum with the bullish impetus from the 20-day SMA and at the moment is trading at 1.332. Short term technicals and dynamics of the market sentiment give little to suggest that the pair could start moving to one or another side more confidently. Short term rallies should be capped by the 5-month high whilst dips should find support with the 20-day SMA.
Traders' Sentiment
Situation in the market has been exactly the same for the past 4 trading days. Bears continue to hold 65% of all open positions and 54% of pending orders are set in their favor as well.
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