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"It was by no means an upbeat sounding assessment of the state of play by the RBA but it could have had a more dovish note to it than it did."
- CMC Markets (based on The Wall Street Journal)
Pair's Outlook
Pair is sweating to breach cluster of resistance levels around 1.03. Although it would seem pair might have enough momentum to do so, but recent developments raise a lot of doubts and scenario where pair remains at 0.92-0.93 range seems much more likely.
Traders' Sentiment
Bullish sentiment decreased by substantial 10% margin, but remains strong at 57% mark. However, 60% of pending orders which are to go short suggest a possible major change in market sentiment in the near future.
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