News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
More View more
Australian Dollar Downtrend Intact, We Like Selling

Australian Dollar Downtrend Intact, We Like Selling

David Rodriguez, Head of Product
Australian Dollar Downtrend Intact, We Like Selling

Receive the Weekly Speculative Sentiment Index report via PDF via David’s e-mail distribution list.

Australian DollarRetail FX traders remain long the Australian Dollar versus the US Dollar, and a contrarian view of crowd sentiment keeps us looking for AUDUSD weakness.

Trade Implications – AUDUSD: Traders recently turned net-short AUDUSD as it traded into multi-month highs, but the move below $0.9350 once again left crowds long. As long as traders continue buying, we’ll remain in favor of selling. A hold below last week’s high likewise leaves our technical forecast calling for a test of key support at $0.9205 and $0.9138.

See next currency section:EURUSD - Euro Remains in the Driver's Seat versus US Dollar

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

Australian Dollar Downtrend Intact, We Like Selling

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

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

DISCLOSURES