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- Masaki Kondo and Michael G. Wilson, Bloomberg
Pair's Outlook
During the first part of Thursday's trading session the Australian Dollar against the US Dollar stopped the fluctuations between two levels of significance, which kept the rate squeezed in previously. The currency exchange rate moved lower, as it passed the weekly S1 at the 0.7636 level and began to bend the lower Bollinger band. The pair is set to fall as low as the weekly S2, which is located at 0.7597 level. Afterwards in the near future the pair might fall to the weekly S3 at 0.7545, which would be then supported by the 55, 100 and 200-day SMAs.
Traders' Sentiment
Market sentiment remains bearish, now at 67% (previously 71%). At the same time, the share of sell orders increased from 54 to 59%.
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