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"Now the market will begin to look forward to and anticipate what will be said at the Jackson Hole conference at the end of August and then what the FOMC may or may not decide at its September meeting."
- Tom Kendall, Credit Suisse (based on CNBC)
Pair's Outlook
The Aussie dollar took a plunge against the US dollar and right it is likely to keep bearish momentum over the short run. If this is the case, 1.0469 (S1 Weekly) is going to be an initial support line for investors, followed by 1.0400 (38.20% Fibo) and 1.0312 (200-day SMA) once bearish momentum strengthens.
Traders' SentimentThe stance on AUD/USD is bearish at the present as 61% of investors keep short positions and 39% of market participants hold long positions on the pair. Meanwhile, the order disposition shows that 52% of investors stick to a bullish outlook on the Aussie Dollar -US Dollar currency pair.
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