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"The Australian dollar was a tad weaker following on from the slightly weaker data. But overall it's maintained its higher levels amid pretty short positioning by investors and growing concerns about the near term viability of the US dollar given developments in Washington."
- ANZ (based on The Australian)
Pair's Outlook
Aussie-greenback cross is picking up the pace after bouncing from 0.929 and at the moment is testing 0.940. Despite the neutral outlook on the short and medium term technicals we expect short term bullishness from the pair. 0.95 might prove to cause some substantial difficulties, it might that neutrality given by the technicals will kick in then.
Traders' Sentiment
Greenback and the Aussie remain two the most bought major currencies across the board. Markets sentiment, however, is clearly in favour for the latter one—66% of traders are long on the pair. Majority, 62% in total (-2% since yesterday), of pending orders are to purchase the Australian Dollar.
© Dukascopy Bank SA