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- BK Asset Management (based on Market Watch)
Pair's Outlook
The Aussie's attempts to appreciate above 0.7280 were in vain for the second time last Friday, in spite of absence of any other significant levels to bolster that area. As a result, the AUD/USD currency pair remained muted under the monthly PP. The monthly PP and the 0.72 major level kept the pair at bay previously and are expected to do so again today. Consequently, the base case scenario is a decline at least towards the weekly PP at 0.7177, but this support will doubtfully hold the losses.
Traders' Sentiment
Today 70% of all positions are long, while their share has not dropped below this level for more than three months. Meanwhile, the number of sell orders decreased from 70 to 65%.
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