Trade Implications – AUDUSD: Traders have capitulated after the pair has rebounded over six and a half percent from its August lows and have embraced the potential technical turnaround. Ideally sentiment would drop further in line with a rise in price to confirm the bottom in AUDUSD before additional longs are taken, but we are increasingly bullish here.
--- Written by Christopher Vecchio, Currency Analyst for DailyFX.com
Automate our SSI-based trading strategies via Mirror Trader free of charge
Contact Christopher via email at firstname.lastname@example.org.
Twitter at http://www.twitter.com/CVecchioFX
Facebook at http://www.Facebook.com/CVecchioFX