
Receive the Weekly Speculative Sentiment Index report via PDF via David’s e-mail distribution list.
AUDUSD – The Australian Dollar looks at risk as retail traders buy aggressively into recent weakness. Yet low volatility suggests the Aussie currency may remain in a tight range versus its US namesake.
Trade Implications – AUDUSD: We last saw positioning at similar levels as the AU$ bounced off of key support near $0.9330 just two weeks ago. And though we often go against the crowd—selling when everyone is buying and vice versa—most retail traders tend to do well in these low-volatility conditions.
Until we see a material change in market volatility we put low odds of an Australian Dollar breakdown.
See next currency section: GOLD - Gold Prices Target Yearly Highs Near $1390
--- 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