© Dukascopy Bank SA
"I think the PMI number will keep the Aussie under a little bit of pressure over the next few days."
- Deutsche Bank (based on The Sydney Morning Herald)
Pair's Outlook
Pair is demonstrated increased levels of volatility today, but seems to have stabilized and at the moment is posing to reach new 2014 high. However, we do not see such trend continuing in the nearest future. At best we see the pair extending the gains up till weekly R1/December high. After that it should return to the 91 cent vicinity and continue trading around it with occasional peaks till 0.9129/39 and dips till 20-day SMA.
Traders' Sentiment
Buy side of pending orders expanded by at least 10% and is at 55-65% level after the weekend. Bullish side of open positions, however, contracted by additional 3% and is at 55%.
© Dukascopy Bank SA