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"It gave a little bit of a boost in what has been an environment where creeping reality checks have been coming back into the market, in that things are not all that well. The rally has been short lived, the Aussie has given up some of those gains from overnight."
-Easy Forex (based on Herald Sun)
Pair's Outlook
Although technical indicators point at appreciation of the pair, traders sentiment proves that there is still a lot of uncertainty regarding the pair in the market. It is likely pair will depreciate in the short term, slowly breaching support levels at 1.0392, 1.0375 and 1.0375 where it should it stop and resume it's appreciation.
Traders' Sentiment
Bears continue to loose ground—at the moment only 50.1% of traders hold short positions on the pair (50.5% yesterday). In addition, today only 51% of all pending orders are sell orders on the pair (66% yesterday).
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