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- Swissquote Bank (based on WBP Online)
Pair's Outlook
Britain's exit from Europe caused the commodity currencies to weaken, or rather the US Dollar to strengthen against them on Friday. The AUD/USD pair, however, managed to erase the bigger half of its losses that day, with trade closing just below the 0.75 major level. A bearish gap brought the Aussie closer to the 0.74 mark, where the 20-day SMA is providing immediate support. Downside risks are higher, as the 55 and the 100-day SMAs are weighing on the pair from above. The main target from below is represented by the monthly PP at 0.7367, while the second one will be the 200-day SMA near the 0.73 psychological level.
Traders' Sentiment
Traders' sentiment is still bearish, with 73% of all open positions being short. The number of sell orders takes up 57% of the market.
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