— Ilya Spivak (based on DailyFX)
Pair's Outlook
The Aussie has experienced a sharp movement downwards today, extending its losses for the fourth consecutive day. The pair has breached the lower trend-line and the weekly S1; it is currently testing the 200-day SMA. In case this level is surpassed, the Aussie might find support at 0.7540 where the weekly S2 is located. It is unlikely that the pair will remain its move south after this level. Technical indicators are turning bullish in shorter term but are rather indecisive in longer term.
Traders' Sentiment
Market sentiment has improved slightly but still remains bearish, as 65% of today's traders are holding short positions. Meanwhile, 58% of all pending orders are set to sell the Aussie.
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