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- Westpac (based on FXStreet)
Pair's Outlook
On Monday, the Australian Dollar behaved in accordance with expectations, as it appreciated against the Greenback. Upon reaching the 20-day SMA, the AUD/USD currency pair was pushed back under 0.77 and stabilised at 0.7671. Nevertheless, the Aussie is still likely to sustain losses today, as the consolidation trend continues. However, the pair opened trade just above the weekly PP, which might force the Aussie to rally towards 0.77. Conversely, technical indicators are giving bearish signals, bolstering the possibility of a slump.
Traders' Sentiment
Today 73% of traders are long the Aussie, compared to 74% yesterday. The share of purchase orders slid from 34 to 31%.
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