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- TD Securities Inc. (based on Bloomberg)
Pair's Outlook
After last week, when the pair fell beneath the major level at 0.94, it is hovering above the 0.93 mark. Nonetheless, the pair might have regained some bullishness as it touched the weekly PP at 0.9335. In case the weekly PP is breached then the next key level is just around the corner (the 100-day SMA). At the same time the technicals do not support the pair's appreciation; therefore we might see a period of consolidation around the 0.93 level.
Traders' Sentiment
At the moment there is a lot of uncertainty as the pair's sentiment is neutral with 53% of the traders being bullish. The gap between the buy (23%) and sell (77%) orders placed 100 pips from the spot is very significant for now.
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