© Dukascopy Bank SA
"That demand for the US dollar has weighed on all currencies against the US dollar."
- Commonwealth Bank (based on The Australian)
Pair's Outlook
Pair extended its loses further and at the moment has slipped below the cluster of levels at 1.0372/434 which weakens the probability that pair might pick up again soon. On a similar note, pair should not fall much lower either as a rather strong cluster of levels could be found just slightly below, around 1.034. Similar predictions could be seen from technical indicators. It is worth to notice, however, that they indicate that there is a significant downside pressure on the pair.
Traders' Sentiment
Three out of four market participants are short on the aussie against the greenback. Bulls, however, might regain some of the strength as they have posted 60% of all pending orders.
© Dukascopy Bank SA