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- Commerzbank (based on Bloomberg)
Pair's Outlook
The AUD/USD currency pair remained flat on Thursday, thanks to the better-than-expected US Existing Home Sales data. Nevertheless, the commodity currencies remain boosted by the ECB governor's statement about further QE; hence, the Aussie is seen climbing higher on Friday. Furthermore, a strong cluster keeps supporting the pair around 0.7175, while the closest resistance is the monthly R1. However, the Australian Dollar is only capable of erasing Wednesday's losses, as it lacks momentum to pierce the second resistance cluster.
Traders' Sentiment
Bulls returned to its last Friday's level of 71%, whereas the number of buy orders dropped ten percentage points down to 42%.
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