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"Downward pressure on the Aussie can probably continue today, if the domestic numbers are weaker than expected."
-Peter Dragicevich, Commonwealth Bank of Australia (based on Bloomberg Businessweek)
Pair's Outlook
Pair bounced from monthly PP, but 1.0401 provided enough resistance to slow down pairs advancement further. Although pairs outlook is neutral in the short term, the Stochastic indicator supports the probability of pair gaining momentum and advancing further.
Traders' Sentiment
Bearish sentiment persists for the third week, but slipped by 3% today and is at 54% gauge. Distribution of pending orders brought in some clarity today, as amount of sell orders increased to 56% from 50% yesterday.
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