© Dukascopy Bank SA
"Sentiment is still being influenced to some extent by all of these negative news reports regarding the resources sector.
-Ray Attrill, National Australia Bank Ltd. (based on Bloomberg Businesweek)
Pair's Outlook
Pair continues to depreciate and is set to test 1.0342/36, eventually dropping to 200 day SMA during this week which should push the pair back up to monthly pivot point at 1.0372.
Traders' Sentiment
Bearish sentiment persists for the third week—however, it has dropped to 57% in comparison to 60% at the end of last week. Distribution of posted orders do not suggest any major changes as 56% of traders have posted sell orders.
© Dukascopy Bank SA