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DailyFX Home / Forex Technical Analysis / Speculative Sentiment Index

SSI: The Speculative Sentiment Index

Symbol LastWeek Present %Long Change:
Open Interest
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The SSI is reported Every Thursday at DailyFX.com and twice every trading day inside DailyFX PLUS.


Australian Dollar Not Likely to Break Just Yet

Australian Dollar Not Likely to Break Just Yet

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AUDUSD The Australian Dollar looks at risk as retail traders buy aggressively into recent weakness. Yet low volatility suggests the Aussie currency may remain in a tight range versus its US namesake.

Trade Implications – AUDUSD: We last saw positioning at similar levels as the AU$ bounced off of key support near $0.9330 just two weeks ago. And though we often go against the crowd—selling when everyone is buying and vice versa—most retail traders tend to do well in these low-volatility conditions.

Until we see a material change in market volatility we put low odds of an Australian Dollar breakdown.

See next currency section: GOLD - Gold Prices Target Yearly Highs Near $1390

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

Australian Dollar Not Likely to Break Just Yet

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