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- OzForex Ltd. (based on Bloomberg)
Pair's Outlook
AUD/USD once again took a U-turn ahead of the August low and is currently gaining pace while moving en route to the monthly pivot point at 0.8966. Should this resistance fall a victim to the upward impetus, the price will be expected to target 0.9111/05 and then possibly even 0.9255/43. Otherwise the bias will remain negative, as implied by the technical indicators.
Traders' Sentiment
The bullish with respect to AUD/USD traders continue to dominate the market, being that longs constitute 72% of the total amount of positions, leaving the bears in a distinct minority with only 28%. As for the orders, the percentage of buy ones has grown from 39% up to 55% since the last report.
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