© Dukascopy Bank SA
- ANZ Bank (based on the Australian)
Pair's Outlook
On Tuesday the Australian currency found a reliable support level (weekly S1) at 0.9277 and from this point onwards the pair started to climb towards the 0.94 mark. Today, once again, the pair approached the weekly and monthly R1s at 0.9379/90. If yesterday the Aussie failed to consolidate around these levels then today the currency pair looks more confident, as it managed to touch the 0.94 level. Also the majority of the daily and weekly technicals are bullish.
Traders' Sentiment
Current advance is apparently discouraging some of the bearish traders; as compared to the yesterday's readings, the share of short positions fell from 66% to 60%. In the meantime, the share of sell orders slid from 52% down to 46%.
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