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- BNZ Markets (based on WBP Online)
Pair's Outlook
The AUD/USD currency pair edged up on Tuesday, according to the expectations. The weekly S1 provided enough demand for a temporary rebound. However, initial resistance around 0.7660 was not reached, and the Aussie settled at 0.7613. Nonetheless, a small rally is anticipated on Wednesday, while the technical indicators give mostly mixed signals. Immediate resistance remains the same cluster around 0.7660, created by the 20-day SMA and the weekly pivot point.
Traders' Sentiment
Liquidity consumers retain their bullish view, with 62% of market participants being long the Aussie for the second day. The gap between the buy and sell commands narrowed to 2% pp.
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