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"It's pretty much a done deal. That's given risk assets a big lift and the Aussie has inevitably bounced on that. I see very little to sway the Aussie from trading higher in coming days and weeks.''
- Westpac (based on The Australian)
Pair's Outlook
Pair has breached the September high with a bang and at the moment is testing 200-day SMA. If the pair advances above it, that would put June high at 0.979 on the map. Failure here could provoke a sell off which should find support with the September high at 0.953. Dipping below it could send the pair trailing to 0.925.
Traders' Sentiment
Aussie at the moment is the most acquired, 72% of all cases, major currency across the board. Greenback is second with 64% of acquisition rate. This explains strongly bullish sentiment of the pair—64% of all positions re long on the pair. However, bullish side of pending orders contracted by 4% and is at 55% today.
© Dukascopy Bank SA