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"It's pretty dull, to be honest, given that we've got very little in the way of news scheduled. Markets are all pretty flat and it is
the U.S. three-day weekend -- that tends to suppress appetite for taking risk."
- Adam Cole, global head of FX strategy at RBC Capital Markets (based on Reuters)
Pair's Outlook
USD/CAD rallied again, though the bullish momentum is losing strength after the EU members backed joint EU bonds. Thus, a risk
of the downside movement increases, therefore if the bearish correction occurs, AUD/USD could retrace to 1.0165 (initial support
line; R2 Monthly). As the pair is trading above 200-da ma, the bullish trend is prone to stay strong over the short run.
Traders' Sentiment
Traders' sentiment is neutral at the moment as the shares of bullish and bearish positions are equal (50%). Within 100-pip range from
the current market price, the pair is expected to continue its advancement by 65% of traders.
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