© Dukascopy Bank SA
"There hasn't been any reason for traders to buy the Aussie. In the last few days, it's been about uncertainty in the US. The Aussie dollar has drifted lower as there's been political uncertainty in the US over that government debt ceiling debate."
- LTG GoldRock (based on The Australian)
Pair's Outlook
Despite the gains since the start of the week, attitude of the pair remains mild bearish. Another thing weighing on the pair is the fact that it is approaching a cluster of resistance levels, any of them could fail the pair. In order to uplift all of this risk pair should advance above 0.94. in case the pair fails to do so, 0.924 should be a good interim target with next one being the 100-day SMA at 0.920.
Traders' Sentiment
Situation in the market remains exactly the same as prior to the weekend. Bulls account for 65% of all market participants and 64% of all pending orders are set in their favour as well. However, the situation should be perceived as fragile as aussie is bought in 73% and greenback in 68% of all cases across the board.
© Dukascopy Bank SA