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"There is some possible momentum building for maybe a shift back towards $1.05 given the way the Aussie rejected that move below $1.03. The Australian currency could rise above $1.0420 early next week."
- OzForex Ltd. (based on Bloomberg)
Pair's Outlook
Traders' Sentiment
Pair managed to advance more than 60 pips after receiving a bullish impetus from 55 and 100-day SMA. it seems pair is building up momentum and we are likely to see it testing the boundaries of Bollinger band in the near future.
Traders' Sentiment
Market sentiment switched completely during the last day—72% of market participants hold short positions on the pair at the moment. As per order distribution—they are equally divided between bears and bulls.
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