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"The U.S. data was robust enough to keep the dollar supported to year end, and to convince investors that the Federal Reserve will continue to taper."
- BNP Paribas (based on Reuters)
Pair's Outlook
The bullish momentum AUD/USD received at a key support has noticeably weakened in the presence of the monthly S1 at 0.8925. Still, there is potential for the Aussie to continue appreciation, but the currency will have to settle above the two-month falling line in order to exit the downward-sloping channel. Then the rate will be expected to start rising towards the 200-day SMA at 0.9320.
Traders' Sentiment
Despite the bearish signals of the technical indicators, right now nearly three out of four (73%) market participants are in favour of a rally, a percentage point increase from yesterday. As for the orders set on AUD/USD, the gap between the buy and sell ones narrowed from -50% to -30%.
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