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Australian Dollar Could Make a Sustained Move Higher

Australian Dollar Could Make a Sustained Move Higher

David Rodriguez, Head of Product
Australian Dollar Could Make a Sustained Move Higher

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AUDUSD The Australian Dollar remains in a fairly well-defined downtrend versus the US Dollar, but a recent bounce suggests that losses may slow or trends may even reverse.

Trade Implications – AUDUSD:We’ve remained focused on Australian Dollar losses as heavily one-sided forex trading crowd sentiment has pointed lower. Yet a bigger shift in sentiment and a break above month-to-date highs near $0.9360 would leave us in favor of continued Australian Dollar gains.

See next currency section: SPX500 - S&P 500 Defies Gravity, Looks to Trade Higher

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

Australian Dollar Could Make a Sustained Move Higher

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