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    AUD/USD: shallow gains

    © Dukascopy Bank SA
    "Tomorrow's jobs numbers will be quite significant and, given the market is expecting a decent amount of jobs added, there is risk of disappointment. Perhaps this is why AUD/USD has also remained sidelined around the $0.7600 handle." 
    - BNZ Markets (based on WBP Online)


    Pair's Outlook 
    The AUD/USD currency pair edged up on Tuesday, according to the expectations. The weekly S1 provided enough demand for a temporary rebound. However, initial resistance around 0.7660 was not reached, and the Aussie settled at 0.7613. Nonetheless, a small rally is anticipated on Wednesday, while the technical indicators give mostly mixed signals. Immediate resistance remains the same cluster around 0.7660, created by the 20-day SMA and the weekly pivot point. 

    Traders' Sentiment 
    Liquidity consumers retain their bullish view, with 62% of market participants being long the Aussie for the second day. The gap between the buy and sell commands narrowed to 2% pp.
    © Dukascopy Bank SA

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