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AUDUSD– Retail forex traders remain net-long the Australian Dollar versus the US Dollar, and a contrarian view of crowd sentiment leaves us focused on continued AUD/USD weakness.
There has been a marginal shift towards selling since last week, but it would take a much larger change in sentiment to provide evidence that the downtrend is over.
See next currency section: NZDUSD - New Zealand Outlook Unclear until this Shifts
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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