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- RBC Capital Markets (based on MarketWatch)
Pair's Outlook
Overall it seems that AUD/USD is strongly bearish and in the long-term will target the August low at 0.8845, being that the currency pair has recently encountered a strong resistance area around 0.9713 (50% Fibo retracement of April-August sell-off). Accordingly, the latest rally is likely to be shallow and is expected to fail either at 0.9508/02 or at 0.9586/56 (200-day SMA).
Traders' Sentiment
On average in its crosses the Australian Dollar was bought in 73% of trades. In the pair with the U.S. Dollar this percentage is slightly lower, at 66%, but is nevertheless higher than yesterday, when 63% of all market participants were expecting the Aussie to outperform the greenback.
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