AUD/USD IG Client Sentiment: Our data shows traders are now net-short AUD/USD for the first time since Dec 15, 2022 when AUD/USD traded near 0.67.
Number of traders net-short has increased by 26.18% from last week.
|SYMBOL||TRADING BIAS||NET-LONG%||NET-SHORT%||CHANGE IN LONGS||CHANGE IN SHORTS||CHANGE IN OI|
AUD/USD: Retail trader data shows 49.11% of traders are net-long with the ratio of traders short to long at 1.04 to 1. In fact, traders have remained net-short since Dec 15 when AUD/USD traded near 0.67, price has moved 1.28% higher since then. The number of traders net-long is 12.19% lower than yesterday and 26.51% lower from last week, while the number of traders net-short is 17.40% higher than yesterday and 26.18% higher from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests AUD/USD prices may continue to rise.
Our data shows traders are now net-short AUD/USD for the first time since Dec 15, 2022 when AUD/USD traded near 0.67. Traders are further net-short than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger AUD/USD-bullish contrarian trading bias.
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