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- Rabobank International (based on Bloomberg)
Pair's Outlook
The AUD/USD pair dived to new lows on Friday, as the Dollar pressures its counterpart for the fifth consecutive day. The Aussie lost over 147 pips in its value as the pair almost hits the weekly S3 at 0.787. Looks like the pair headed to the oversold RSI area and a correction should follow sooner or later. Meanwhile, the 55– 100– and 200– day SMA's have not changed their direction are are heading the the south.
Traders' Sentiment
Many traders changed their sentiment from bullish to bearish since the 50– pip pending orders are set for selling by 78% of all, while the 100– pip ones will be sold by 85% of the market participants.
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