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- Oanda (based on Market Watch)
Pair's Outlook
Even though the AUD/USD dropped to the weekly PP at 0.7361, the given pair was then pushed back up and breached the 0.74 major level. However, the monthly PP prevented further rally and forced the Aussie to close at 0.7412. The Antipodean currency is expected to suffer losses today, as it is subject to weakness after the Chinese Yuan devaluation today. The Australian Dollar has already reached the 0.73 psychological level, but trade is expected to close slightly higher between the major level and 20-day SMA at 0.7339.
Traders' Sentiment
Bullish market sentiment returned to its Friday's level of 73%, down from 74% yesterday. At the same time, the percentage of buy orders remains unchanged at 43%.
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