Note: This section contains information in English only."Fed officials seem a lot less certain about the glide path of future projected rate rises. This may well explain why the U.S. dollar has sold off sharply."
– CMC Markets (based on Bloomberg)
Pair's Outlook
[ANNOUNCE]On Wednesday the Aussie climbed higher against the US counterpart, completely ignoring the immediate resistance level[/ANNOUNCE]. However, the second cluster, located around 0.7295, successfully limited yesterday's gains. This area keeps providing resistance today, but with the risk-on sentiment still present on the markets this cluster is unlikely to cause a U-turn. Instead attention turns to the weekly R3 at 0.7331, which is also reinforced by the descending channel's upper trend-line. Meanwhile, technical indicators are unable to confirm the possibility of the positive outcome, as they keep giving bearish signals.
Traders' Sentiment
Bulls and bears are now closer to being in a perfect equilibrium, as 51% of all open positions are now short (previously 59%). At the same time, 51% of all pending orders are to sell the Australian currency.
Thu, 05 Jan 2017 16:03:31 GMT
Source: Dukascopy Bank SA
– CMC Markets (based on Bloomberg)
Pair's Outlook
[ANNOUNCE]On Wednesday the Aussie climbed higher against the US counterpart, completely ignoring the immediate resistance level[/ANNOUNCE]. However, the second cluster, located around 0.7295, successfully limited yesterday's gains. This area keeps providing resistance today, but with the risk-on sentiment still present on the markets this cluster is unlikely to cause a U-turn. Instead attention turns to the weekly R3 at 0.7331, which is also reinforced by the descending channel's upper trend-line. Meanwhile, technical indicators are unable to confirm the possibility of the positive outcome, as they keep giving bearish signals.
Traders' Sentiment
Bulls and bears are now closer to being in a perfect equilibrium, as 51% of all open positions are now short (previously 59%). At the same time, 51% of all pending orders are to sell the Australian currency.