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- Forex.com (based on the Australian)
Pair's Outlook
This has not been necessarily a good week for the Aussie's bulls as the currency has lost quite a some ground against the US peer. However, today the pair reversed some of the Wednesday's losses, when it dropped around 80 pips. We expect that cross will hold above the 0.85 mark, as above the level there is a cluster of strong support levels (weekly S3, monthly S2 and major level). While, if the pair closes above the 0.86 it might open even higher.
Traders' Sentiment
The portion of bulls lost four percentage points, but still an overwhelming majority of traders expect a change in the currently bearish trend, specifically 71% of them. Meanwhile, the share of buy orders did not changed at 58%.
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