© Dukascopy Bank SA
"Today's statistics leave room for the (Reserve Bank of Australia) to cut the cash rate again before the end of the year."
-St. George Bank (based on the Australian)
Pair's Outlook
Pair continues do depreciate after forming double top pattern. Although it was posing to breach pattern's support at 1.0160 fairly easily, 1.02 proved to be more difficult task as pair was rejected from breaching this level twice already. Such turn of events strengthens prediction, given by Stochastic indicator, that pair might pick up again.
Traders' Sentiment
Traders are continuing to show clear preferences for the pair as ratio between bulls and bears is 71% to 29%, respectively (+4% for bulls since yesterday). As for the pending orders, 55% of them are to sell after being in perfect equilibrium since tuesday.
© Dukascopy Bank SA