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- Swissquote Bank (based on WBP Online)
Pair's Outlook
Antipodean currencies are on the rise since Tuesday, when the AUD/USD pair edged 57 pips higher. The Aussie keeps outperforming the Canadian Dollar today as well, but faces a tough resistance around 0.7430, represented by the 20, the 55 and the 100-day SMAs. The second target Is located at 0.7481, namely the weekly PP, but is unlikely to be reached today. Meanwhile, technical indicators are unable to provide any clear sense of direction, as they are giving mixed signals today. Nevertheless, eventually the given pair risks posting more losses, as the bearish trend remains intact.
Traders' Sentiment
Market sentiment remains bearish for a whole week straight now, with bears taking up 71% of the market today. At the same time, the share of sell orders retreated from 82 to 72%.
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