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We Like Selling Australian Dollar Bounces

By , Quantitative Strategist
21 February 2013 16:00 GMT
ssi_aud-usd_body_Picture_12.png, We Like Selling Australian Dollar Bounces

AUDUSD – Retail forex traders continue to buy aggressively into Australian Dollar weakness, and net-positioning stands near its most net-long since the pair last traded below parity.

Trade Implications – AUDUSD: Our sentiment-based trading strategies continue to sell the Australian Dollar versus the USD and Japanese Yen on the clearly one-sided positioning. Retail long interest has gained a further 14 percent since last week, while total short positioning has fallen 5 percent. Our preference remains to sell the Australian Dollar breakdown.

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
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21 February 2013 16:00 GMT