© Dukascopy Bank SA
"We didn't see much of a follow-through after the price action yesterday. The focus comes on the round of tapering."
- HiFX (based on TVNZ)
Pair's Outlook
Pair continues to slowly trail lower after a major sell off a few days ago. It once again dipped below the 82 cent mark, but fails to gain pace. We expect such trend to continue until it hits 0.8121, which should ignite at least a minor rally. Dip below it seems very unlikely, but in case that happens we expect 80 cent level to be challenged. As pair continues to face downside risk, a strong rally could be possible if the pair would peak above 0.8263, as that would neutralise some of the risk.
Traders' Sentiment
Pending orders are once again equally distributed between the long and short traders. This accounts as 5% decrease in the bullish side. At the same time bears continue to account for 74% of market participants, the same as yesterday.
© Dukascopy Bank SA