Australian Dollar Showing Signs of Bullish Continuation
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
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.