Australian Dollar Likely to Continue Higher

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AUDUSDTrading crowds remain short the Australian Dollar versus its US namesake, and a contrarian view of sentiment points to further AUDUSD gains.

Trade Implications – AUDUSD: In recent weeks we’ve written in favor of Australian Dollar strength amid sentiment extremes and a shift in positioning. This week is little different except to note that the Aussie currency faces a key test at year-to-date peaks near $0.9450. Only a break below key support near $0.9315 and a change in retail positioning would change our trading bias.

See next currency section: GOLD - Gold Targets Fresh Peaks amid Key Shift

--- Written by David Rodriguez, Quantitative Strategist for

Australian Dollar Likely to Continue Higher

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