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"The U.S. economy has got momentum. Good U.S. news will support the U.S. dollar more so these days."
- Westpac Banking Corp. (based on Bloomberg)
Pair's Outlook
Yesterday the price sharply depreciated and slipped beneath the monthly R1 and weekly PP levels at 0.9488. The pair reached the first quarter predictions and an upside movement is bounded by the weekly Bollinger band at 0.9554. Thus, the price is preparing a correction, which might extend till the weekly 55-day SMA and the daily 200-day SMA at 0.9377.
Traders' Sentiment
Recent appreciation and a new high reduced bearish incentives and traders increased their share of buy positions up to 36%. Pending orders market is perfectly equal, as both sides have 50% market share.
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