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"We believe the sustainability of the recovery in the U.S. economic activities will still require accommodative monetary policies in place to support growth."
- Prime Holding (based on MarketWatch)
Pair's Outlook
After a series of repeated attempts to challenge the resistance at 0.9348/10 the currency pair has finally given up, falling beneath the interim supports at 0.9233 and 0.9183/48. Right now AUD/USD is probing 0.9043, but this level is unlikely to hold the selling pressure—the decline may easily extend down to 0.8959/05, the former edge of the bearish channel that was in force in April and June.
Traders' Sentiment
The distribution between the long and short positions remains unchanged. The former continue to take up an overwhelming majority—73%, while the latter constitute merely 27% of the market. In the meantime, the share of buy orders dropped considerably, from 48% to 40%.
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