© Dukascopy Bank SA
- Forex.com (based on the Australian)
Pair's Outlook
The Aussie's bulls have managed to halt the significant yesterday's decline as the pair attacked the 0.86 level today and even traded above it for a moment. Nonetheless, the weekly technical indicators remain strongly bearish with 5 out of 8 sending ‘sell' signals. We expect that important role will be played by weekly S3, monthly S2 and the major level at 0.8530/00. If this level holds then a rebound could be expected.
Traders' Sentiment
More than 70% of the SWFX market participants believe that the Australian Dollar is going to outperform the US peer. And this number could go up, as 58% of orders are placed to purchase the Aussie.
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