© Duakscopy Bank SA
- National Australia Bank (based on the Australian)
Pair's Outlook
For most of the time the pair is fluctuating above the 0.94 level; however, it seems that the pair is poised for a slide towards the monthly PP at 0.9369. Looking back at the pair's movements we can see that the 0.94 mark has been better resistance than support; therefore, we do not expect the level to hold much longer. The monthly technical levels also are pointing downwards suggesting that a bearish movements might be expected.
Traders' Sentiment
The sentiment towards the currency pair remains the same as at the last trading session (67% of the SWFX traders are bearish). The difference between the buy (48%) and sell (52%) orders placed 100 pips from the spot is insignificant for now.
© Duakscopy Bank SA