© Dukascopy Bank SA
"We spoke about the next G-20 meeting and about our common interest in having members of the G-20 commit themselves to economic growth, and that followed a discussion about the seeming fragility of the economic and political situation in much of Europe."
- Bob Carr, Australian Foreign Minster (based on Bloomberg)
Pair's Outlook
The Australian dollar attempted to rebound from the recent lows after Germany compromised on the common Eurobonds today. Although 0.9826 (S1 Weekly) has been pierced on Wednesday, the pair is still floating above 0.9705 (Lower support line; Lower Bollinger band) and 0.9648 (S2 Weekly). If the bearish impetus strengthens afterwards, these levels will be targeted by bearish investors.
Traders' Sentiment
The share of market participants holding short positions has significantly increased, compared to yesterday's figure, down to 62%. At the same time, the portion of long positions now constitutes 38% of the total amount of the trades.
© Dukascopy Bank SA