© Dukascopy Bank SA
- AiGroup (based on The Australian)
Pair's Outlook
The Australian Dollar was unable to maintain bears' pressure and the price sharply dropped today. The pair touched the 100-day SMA at 1.0380, but that was unsustainable and currently the Aussie is traded beneath a 1.0355 level, where the 55-day SMA intersects the 20-day SMA. The closest support is located at 1.0281, where the weekly PP is positioned, but if the Aussie will keep the current momentum, the level will not support the price for the long time and it will slip towards the monthly S1 at 1.0200 or even the Bollinger band at 1.0156.
Traders' Sentiment
Distribution of opened positions is heavily skewed on the bearish side, since 3/4 of the market are short. Pending orders segment is bullish with 67% of long orders.
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