Australian Dollar Still Looks like a Sell
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Trade Implications – AUDUSD: The Australian Dollar recently hit its worst consecutive weekly decline since 1986, and such incredibly one-sided price action leaves clear risk of short-term reversal. Yet we’ll need to see a much larger shift in crowd sentiment before calling for a meaningful Aussie Dollar bounce.
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.