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- ANZ (based on WBP Online)
Pair's Outlook
The hawkish FOMC statement pushed the Australian Dollar significantly lower against its US counterpart. The immediate support was pierced, but the second one, namely the weekly S2, managed to limit the losses. Technical indicators suggest the Aussie is poised for a third decline in a row. A rather strong demand is around 0.7055, represented by the weekly S3, the Bollinger band and the monthly pivot point, but the possibility of a rebound persists, causing the pair to return above the 55-day SMA.
Traders' Sentiment
Bullish market sentiment remains unchanged at 74%. Although sell orders dominate the market, their portion slightly declined, namely from 67 to 62%.
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