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"The longer Spain delays asking for EFSF help, the more the market can think about the conditions that would attached to such help. And the more everyone can worry."
- Kit Juckes, Societe Generale (based on Reuters)
Pair's Outlook
AUD/USD is holding ground right nowslumped lower yesterday, though today is managed to cover some of the previous daily losses while advancing towards 1.0574 (23.60% Fibo). A breakout here would expose the second and third resistance levels at 1.0629 (Upper Bollinger band) and 1.0668 (R2 Weekly), respectively.
Traders' SentimentBearish sentiment on AUD/USD strengthened today as right now 71 % of market participants are holding short positions and 29% of traders hold longs on the pair. Pending orders positioning reveals that only 52% of investors on market expect the pair to augment over the middle run.
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