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"It's been an extremely quiet day, especially for the Aussie which has been in a 30-40 point range. The main reason for its strength and resilience is expectation of further easing from the Fed.''
- BK Asset Management (based on The Australian)
Pair's Outlook
After series of attempts it seems that pair finally breached 1.05 for good. However, next, much more complicated step would be to breach Monthly R1/Bollinger band at 1.0514/18. It is very likely that like with 1.05 it will take some time since technical indicators do not shine with the abundance of conclusive signals.Traders' Sentiment
After a major swing in the moods in the beginning of the week bears are comfortably constituting for 70% of market participants. Majority of pending orders (58%) are to go short as well, suggesting that we should not see any major changes any time soon.
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