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"It just adds to this negativity that's starting to creep into the markets. There's quite a number of factors working against it (the Australian dollar)."
- Easy Forex (based on Market Watch)
Pair's Outlook
Aussie regains momentum and depreciates further. Stochastic indicator suggest that we should see a an attempt to pull up soon, and as pair is approaching cluster of support levels around 1.02 it is highly likely that pair will slow down for some time.
Traders' Sentiment
After three week of bearishness, market sentiment became bearish as 56% of traders are holding long positions on the pair after the weekend. However, 53% of all pending orders are sell orders suggesting that market sentiment might reverse soon.
© Dukascopy Bank SA