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"This is one area where the RBA is finally getting some traction and buying the RBA more time to sit on their hands."
- National Australia Bank about rising housing prices (based on The Australian)
Pair's Outlook
Pair dipped below 1.019 all 3 recent sessions and kept holding overall bearish direction and although pair has been volatile for quite some time now, it seems that we can expect it to maintain overall bearish direction. Such scenario is also predicted by medium and long term technical indicators and it is likely that we might still have to wait for recovery, expected by major market participants, for quite some time.
Traders' Sentiment
Closing to the end of the week situation remains rather ambiguous—bulls hold very slim majority in the market constituting for 51% of market participants. 51% of pending orders, on the other hand, suggest that bears are not willing to surrender easily as they are to sell the aussie versus the greenback.
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