"The
retail sales number was extremely strong. It justifies the move higher
in the Aussie. The Reserve Bank of Australia said this week that there
are signs the economy is responding to previous easing of monetary
policy and we're clearly seeing that evidence today."
- TD Securities Inc. (based on Bloomberg)
Pair's Outlook
AUD/USD
failed to resist the bearish sentiments and the price dropped sharply.
Yesterday the pair was close to a two week high at 1.0497, but today the
Aussie slipped through the weekly PP at 1.0435 and was stopped by a
1.0413/1.0402 area, where the 20-day and 100-day SMAs merge, forming the
resistance. Further depreciation might extend till the 200-day SMA at
1.0388 or even till a 1.0339 level, where the 55-day SMA, monthly PP and
weekly S2 form the major resistance.
Traders' Sentiment
SWFX
market participants were cut their bullish positions, while the price
has been decreasing; the sell side contracted by 3% and reached 25%.
Pending orders market is oriented to see continuation of an upside move,
since 63% are buy orders.
Fri, 05 Apr 2013 05:20:09 GMT
Source: Dukascopy Bank SA
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