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"The RBA will be on hold for many months to come it seems and they will (more than ever) be hoping the US Federal Reserve comes to the party to taper its bond purchases sooner rather than later, although we could say the same about the Bank of Japan and the European Central Bank as well."
- IG Markets (based on The Australian)
Pair's Outlook
Despite the bullishness yesterday, the pair failed to consolidate above the 95 cent mark. In order to start a full pledged recovery the pair should advance above the 200-day SMA. Otherwise we should expect a short term weakness from the pair indicated by the short term technicals. Having this in mind, we might see the pair trailing as low as 0.9185. However, 0.9303/248 should stop the pairs depreciation before that.
Traders' Sentiment
Aussie once again is the most acquired major currency across the board. As a consequence 63% of traders, 3% less than yesterday, hold long positions on the pair. Bullish side of pending orders decreased by 3% as well and is at 69% gauge today.
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