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"Having sold off modestly earlier in the week, the moves by Chinese authorities to boost the economy helped push the Aussie back above the US$1.04 level."
-Arab Bank (based on The Wall Street Journal)
Pair's Outlook
Pair continues to appreciate after receiving a kick from 200 day SMA at 1.0327 yesterday. However, downside risk on the pair remains and this attempt to step up can be easily neglected by any of resistance levels at 1.0436/49.
Traders' Sentiment
USD and AUD, remain the most bought major currencies across the board for the whole week now—64% and 60% of all cases respectively. Bullish sentiment mildly weakened today but is still slightly above 60% gauge. However, 9% decrease in pending buy orders (54% of all orders at the moment) on the pair suggest a possible major swing of moods on the market.
© Dukascopy Bank SA