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- ICICI Bank (based on MarketWatch)
Pair's Outlook
A failure of the Australian Dollar to overcome a significant resistance at 0.97 has caused a strong sell-off. Now the currency pair is probing the rising support line at 0.9615/0.9590 that has been in force since the end of August. However, the path of the least resistance for AUD/USD still leads south, a direction also suggested by the monthly technical indicators.
Traders' Sentiment
The distribution between the long and short positions is exactly the same as yesterday—while the latter remain in a minority, the former take up as much as 62%. Speaking of the orders, 55% are to enter the market with a buy trade and 45% are to enter it with a sell trade.
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