© Dukascopy Bank SA
"The Australian dollar is holding in at relatively high levels as currency markets attempt to absorb the implications of the US government shutdown."
- National Australia Bank (based on The Australian)
Pair's Outlook
Pair remains rather calm as it is trading around 94 cent mark. Despite the neutrality given by the technical indicators we anticipate that the pair will advance further. September high at 0.95 is the main obstacle in such case. It should cause some bearishness , but should be breached soon enough. In case the pair fails there we should look in to the 38.2% retracement of the August to September move.
Traders' Sentiment
Aussie remains the most bought major currency across the board. Market sentiment remains largely unchanged as well. Bulls at the moment hold 65% of all open positions on the pari. That is 2% less than on Friday. Pending orders remains at 70% being set to go long on the pair.
© Dukascopy Bank SA