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- Westpac Banking Corp. (based on Bloomberg)
Pair's Outlook
A second attempt to push through 1.0243/30 was also unsuccessful, resulting in a 100-pip rally to the nearest resistance level at 1.0343/36 that is containing bulls, but with certain difficulties. In light of this fact the pull-back could extend even deeper, up to the 200-day SMA, where the willingness of the market participants to drive the price higher should fade out.
Traders' Sentiment
It appears that a substantial part of traders were able to profit from the yesterday's leg up, since the portion of long position has plunged down to 37%, while the share of shorts grew up to 63%. On the other hand, there is almost no difference between buy (52%) and sell (48%) orders.
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