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Australian Dollar Downtrend Intact - When is the Next Trade?

Australian Dollar Downtrend Intact - When is the Next Trade?

David Rodriguez, Head of Product
ssi_aud-usd_body_Picture_15.png, Australian Dollar Downtrend Intact - When is the Next Trade?

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AUDUSDRetail forex traders remain steadily long the Australian Dollar, acting as contrarian signal that it may continue lower against its US namesake.

Trade Implications – AUDUSD: We would ideally see bigger sentiment extremes getting aggressively bearish AUDUSD, as only 58% of traders in our sample are currently long. That said, they have mostly bought the Australian Dollar since January and it remains in clear downtrend. We would need to see a major shift before changing our bearish long-term trading bias.

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

ssi_aud-usd_body_Picture_9.png, Australian Dollar Downtrend Intact - When is the Next Trade?

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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