© Dukascopy Bank SA
"Sentiment is still being influenced to some extent by all of these negative news reports regarding the resources sector.
-Ray Attrill, National Australia Bank Ltd. (based on Bloomberg Businesweek)
Pair's Outlook
It seems that pair is driven completely by the fundamental news regarding the commodity prices, especially those from mining sector, but cluster of support levels at 1.0345 should stop pairs depreciation by the end of the trading week.
Traders' Sentiment
Bearish sentiment persists for the second week on the pair as no less than 60% of traders keep holding short positions on the pair. Distribution of pending orders does not predict any changes in new trading week as 60% of traders have posted sell orders in 100 pip range from current market price.
© Dukascopy Bank SA