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– Commerzbank (based on FXStreet)
Pair's Outlook
On Tuesday the Aussie continued to making baby steps towards the three-year down-trend. However, gains were limited by the immediate resistance, as was expected, preventing the AUD/USD pair from climbing over 0.7560. Today the commodity currency is under higher risk of experiencing a decline. First of all, technical indicators keep giving bearish signals, second, a potential market mover is present, namely the FOMC Statement. Moreover, during the Asian session the pair approached the three-year down-trend, which could add more pressure and ultimately trigger a sell-off today, causing trade to close in the red zone.
Traders' Sentiment
Bears are now in the majority, with 53% of all open positions being short, whereas the share of pending orders remains unchanged at 51%.
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