© Dukascopy Bank SA
- MYER (based on The Australian)
Pair's Outlook
The Aussie is driven by powerful bears, who took total control of the pair and push it even lower. Today the pair broke a last week's low at 0.9711 and continued its rapid depreciation. The closest and most reasonable support level is located at 0.9646, where the weekly S1 merges with previous major trading levels in recent three years.
Traders' Sentiment
The gap between long and short positions remains huge, as there are 74% of bulls and 26% of bears in the market. Traders truly believe that we are on the verge on Aussie's appreciation. Placed orders market is gently bearish with 54% of sell orders.
© Dukascopy Bank SA