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- Western Union Business Solutions (based on the Australian)
Pair's Outlook
AUD/USD has reversed some of the last week's losses thus far; although, at the moment the pair is challenging the major level at 0.88. At the same time, the bearish technical indicators are putting a pressure on the bullish traders, as all of them are pointing to the south. If the pair losses the current bullish steam then there is a possibility of a drawback towards the weekly PP at 0.8711. For the bullish scenario Dec low at 0.8822 has to be breached.
Traders' Sentiment
As evidenced by the SWFX traders' sentiment, about seven out of ten traders believe that the Aussie is going to continue its bullish recovery relative to the U.S. Dollar. In the meantime, the portion of buy orders declined, from 55% to 49%.
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