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- RBA Deputy Governor Philip Lowe (based on Bloomberg)
Pair's Outlook
AUD/USD pair has slumped below the lowest level this year, after the bulls failed to hold the Aussie above the 0.86 mark. We think that the monthly S2 at 0.8517 will hold the pair afloat above the 0.85 level. From there the currency pair is likely to move sideways, as also the daily and monthly technical studies expect a movement to the east. Nevertheless, a drop beneath the 0.85 mark would not fuel a sell-off.
Traders' Sentiment
An overwhelming majority (71%) of the traders' believe that the Aussie is going to regain its bullishness and increase in value relative to the US Dollar. The distribution between the buy and sell orders is far from stable—71% and 29% respectively.
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