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- Nikko Asset Management (based on Reuters)
Pair's Outlook
AUD/USD pairs' intra-day bias is being bearish and heading toward the 0.765, yet, the US Dollar lost some strength today. In case a break below the weekly S1 follows, such a move will target the next level at monthly S1, 0.756. On the contrary, above 0.776, the monthly PP, trades should turn bias neutral with some extension of consolidation. The bigger picture shows that the monthly down trend is still in progress.
Traders' Sentiment
The market remains highly bullish with 64% of bought trades. 39% of participants hold the 50– pip pending orders long and the 100– pip ones have generally the same bullish interest.
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