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- ANZ Group (based on WBP Online)
Pair's Outlook
AUD/USD plunged on the previous business day, although a bit further than first anticipated. The Aussie dropped below the 0.7725 support level and ended the trading day at 0.7712, just in front of the lower Bollinger band. The technical studies suggest a neutral outcome for the currency pair, so it is likely to remain within the tight range between the weekly PP at 0.7759 and the weekly S1 at 0.7659, as there are no significant data releases scheduled for today.
Traders' Sentiment
There are still more bullish than bearish traders among the SWFX market participants, being that 61% of all positions are long. Meanwhile, the number of orders to acquire the Aussie decreased, down from 39% to 32%.
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