© Dukascopy Bank SA
- Commonwealth Bank (based on the Australian)
Pair's Outlook
The Aussie prolonged its recovery today by climbing above the 55 and 100-day SMAs at 0.9354/44, respectively. In case the pair closes around current levels or even above the monthly PP at 0.9362 then a move towards the major level at 0.94 is likely. However, a slide below these levels could spur a sell-off towards the 20-day SMA and weekly PP at 0.9303/0.9294. The monthly technical indicators are bullish, thus strengthening the outlook where the pair tops around the 0.94 level.
Traders' Sentiment
It seems that today's advance has discouraged some of the traders as the sentiment fell from 66% to 41% since the last time of writing. Meanwhile, the share of buy orders grew from 54% up to 65%.
© Dukascopy Bank SA