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"The market has perceived that as a step in the right direction and that has supported the currency."
- ANZ (based on Sky News Australia)
Pair's Outlook
Pair has decisively breached the psychological level at 1.05. Further strength of the pair raises few questions in the short term as for quite some time it has been pushing the boundaries of Bollinger band and in the past it proved to be a major stoppage for the pair. However, technical indicators, even if on small margin, point at further strengthening of the aussie.Traders' Sentiment
Bears hold comfortable majority in the markets as they account for 72% of market participants. It does not seem that situation might change any time soon as pending orders are equally distributed between bears and bulls.
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