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 aggressively versus the USD and Japanese Yen on the clearly one-sided positioning. The trades have done well, and we see little reason to go against the substantive reversal until we see signs of short-term exhaustion.
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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