© Dukascopy Bank SA
''It's unlikely we'll see a huge reduction or a major reduction in the Aussie dollar's strength until there is a tapering in the US. As the US dollar strengthens, we'll start to see the Aussie come off a bit."
- ANZ (based on The Sydney Morning Herald)
Pair's Outlook
Pair is channelling some bullishness and at the moment and is testing 95 cent mark. We do not expect the pair to advance much further. In order to uplift most of this pressure the pair should advance above 200-day SMA. At the same time it is questionable if the pair will dip below 0.9414. If it shows a solid close below it we might see a sell off to 93 cents and, afterwards, to 92 cents.
Traders' Sentiment
Market sentiment itself remained where it was before the weekend—66% of market participants hold long positions on the pair. Bullish side of pending orders increased by 15% and is at 72% gauge today.
© Dukascopy Bank SA