Australian Dollar Rally at Clear Risk on Two Factors
Receive the Weekly Speculative Sentiment Index report via PDF via David’s e-mail distribution list.
Australian Dollar – The Australian Dollar remains resilient versus the US Dollar, but signs of an important shift in sentiment as well as a key cyclical turn window warn of a potential AUDUSD top.
Trade Implications – AUDUSD: Retail crowds most recently turned net-short the AUDUSD as it traded above the $0.9200 mark, and fairly consistent selling has kept us consistently in favor of Aussie Dollar strength. Yet long interest has risen a notable 12 percent since last week as the AUD stalls at highs. The significant cyclical turn window suggests a turn could come through the foreseeable future.
See next currency section:EURUSD - Euro Remains in the Driver's Seat versus US Dollar
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
Automate our SSI-based trading strategies via Mirror Trader free of charge
To receive the Speculative Sentiment Index and other reports from this author via e-mail, sign up for his distribution list via this link.
Contact David via
Twitter at http://www.twitter.com/DRodriguezFX
Facebook at http://www.Facebook.com/DRodriguezFX