© Dukascopy Bank SA
- National Australia Bank (based on news.com.au)
Pair's Outlook
The Aussie has gained in value through this week and at the moment it is trading around the 20 and 55-day SMAs at 0.9305. We expect that the monthly PP together with weekly R1 at 0.9316/33 could be hard to break as in our opinion the Aussie is trading near the top. The technical indicators are mixed; however, the longer term indicators expect the Australian currency to fall in value against its U.S. counterpart.
Traders' Sentiment
Market sentiment remains almost the same as bears continue to hold 52% of all of the open positions on the pair. The distribution between the buy and sell orders is also quite stable—53% and 47% respectively.
© Dukascopy Bank SA