© Dukascopy Bank SA
- FxPro (based on MarketWatch)
Pair's Outlook
The 100-day SMA has once again, just like at the very end of 2012, prevented development of a dip. The 200-day SMA is also nearby and thus impedes unfolding of a favourable for the bears scenario. Technical indicators continue to give "buy" signals, suggesting that the nearest resistance at 1.0474/63 is likely to give in, allowing a re-test of a key level at 1.0575 further on.
Traders' Sentiment
The share of long positions in the SWFX market continues to increase, reaching 37% today. Nevertheless, most of the investors stay short (63%) on the Aussie. As for the orders, the majority (67%) are to buy the Australian Dollar, despite the fact that it is the least popular currency among the traders, acquired only in 28% on average in its crosses.
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