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- Societe Generale (based on MarketWatch)
Pair's Outlook
AUD/USD continues to consolidate near 0.81 following an initial test of this level earlier in December. Considering the toughness of the support, which is mainly created by the weekly S1 and monthly S3, we may expect a rally, potentially to the monthly S2 at 0.82. However, the technical studies do not confirm the bullish scenario, meaning the chance of some of the recent losses being negated stays low.
Traders' Sentiment
The share of open long positions is unchanged at 71%, which is six percentage points less than five days ago. As for the pending orders, 36% of them are to purchase and 64% are to sell the Aussie against the Greenback.
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