© Dukascopy Bank SA
"The Australian dollar has traditionally been one of the worst performers under a U.S. slowdown, and with the fiscal cliff fast approaching we expect a new risk-off movement."
-HSBC (based on The Australian)
Pair's Outlook
200 day SMA provided significant boost for the pairs advance above 1.04. Although traders share mixed believes, but technical indicators on 1 day chart suggest that pair is facing significant downside risk and it is likely that weekly R1 and downtrend support at 1.0453 will provide enough resistance and push pair back down.
Traders' Sentiment
Amount of traders holding long positions decreased by 4% since yesterday and market sentiment is in perfect equilibrium between bears and bulls today. Distribution of pending orders does not suggest any possible major changes in the future since only slightly more, 51%, of all pending orders are buy orders.
© Dukascopy Bank SA