© 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 pushing higher and reaching new 2014 after it bounced from the 20-day SMA yesterday. We expect it to peak above weekly R1/December high and return below it afterwards. We expect it to stay slightly above 91 cent mark and only a dip below it could provoke a bearish action which could push the pair till 89 cent mark. Before that, however, the pair should neglect the 20-day SMA support.
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