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- Commerzbank (based on FXStreet)
Pair's Outlook
The Aussie surprised with its decline on Wednesday, edging closer to the April 2009 low once again. Nonetheless, yesterday's losses are unlikely to last, as the Australian Dollar was boosted by strong Employment Change data today. The AUD/USD has already recovered and even tested the resistance cluster around 0.71, represented by the weekly R1 and 20-day SMA. The area is expected to hold the gains, but with the pair remaining at the highest point in a week. Technical studies, however, retain their strong bearish signs.
Traders' Sentiment
Bullish SWFX traders' sentiment remains unchanged at 72%. Meanwhile, there are nine percentage points more orders to sell the Aussie. Now the commands take up 80% of the market.
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