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Pair's Outlook
AUD/USD were not able to break the 0.91 level yesterday, while today the pair slipped towards the 0.9050 mark. Moreover, the Aussie has approved its determination not to fall below the 0.90 mark by rebounding already couple of times from this level. Therefore, we expect the pair to trade range bound with some short-term rallies towards the 0.91 level. Nevertheless, if for some reason the pair drops below 0.90 then a sell-off could occur.
Traders' Sentiment
As evidenced by the SWFX traders' sentiment, about six out of ten traders believe that the Aussie is going to appreciate relative to the U.S. Dollar. In the meantime, the portion of buy orders jumped, from 25% to 50%.
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