© Dukascopy Bank SA
- Bank of Montreal (based on Bloomberg)
Pair's Outlook
The pair started the week with an slight advance above the 0.93 level, while last week the Aussie fell as low as 0.9239. The most important level in the near term will be the major level at 0.93. If the pair slides below the level then a decline towards the weekly S1 at 0.9243 is likely. Nevertheless, the shorter term (daily and weekly) technical indicators are slightly to the upside, indicating that a drop is not expected for the time being.
Traders' Sentiment
The sentiment towards the pair increased from 54% to 63% since the last time of writing. Concerning the orders placed 100 pips from the spot, there are now significantly more commands to buy—71%, after 51% on Friday.
© Dukascopy Bank SA