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- Schaeffer's Investment Research Inc. (based on Bloomberg)
Pair's Outlook
The AUD/USD broke the weekly PP support at 0.819 and continued its way down, trading neat the 20– day SMA at 0.815. Overall, the USD depreciated versus the AUD for 50 pips during the day. The cross is losing investor interest lately, as the volume of trades is falling for the third consecutive day. In addition, the 55– 100– and 200– day SMAs' are still pointing lower.
Traders' Sentiment
Majority of the opened positions are set to be long since only 28% of traders expect the pair to slip. 45% of 50– pip opened pending orders are set to be long in 45% of the case, whereas the 100– pip one is half long.
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