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  • The New Zealand Dollar may resume its broader uptrend, with NZD/USD and NZD/JPY eyeing key rising support. NZD/CAD and NZD/CHF appear to have more room for near-term losses, however.Get your market update from @ddubrovskyFX here:https://t.co/6hD7zsNHIh https://t.co/zYKUh6mVj1
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.87%, while traders in Germany 30 are at opposite extremes with 66.27%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/rNFAg78N7v
  • Forex Update: As of 05:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.00% 🇨🇭CHF: -0.04% 🇯🇵JPY: -0.07% 🇪🇺EUR: -0.11% 🇦🇺AUD: -0.19% 🇳🇿NZD: -0.33% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/hpiN5FbuNz
  • Indices Update: As of 05:00, these are your best and worst performers based on the London trading schedule: Wall Street: -0.32% US 500: -0.38% Germany 30: -0.65% France 40: -0.80% FTSE 100: -0.89% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/B19fwTOt3O
  • Bitcoin and Ethereum look set to climb higher in the near term, as Citigroup and Goldman Sachs prove additional validation to the cryptocurrency market. Get your market update from @DanielGMoss here:https://t.co/uqdtJGoz1E https://t.co/MbQulbtGyN
  • Risk aversion is starting to take serious traction but the Dollar is also climbing after Powell's failed attempt to soothe markets. That said, I'm watching $USDJPY (sentiment below) along with the Nasdaq 100. My analysis: https://www.dailyfx.com/forex/video/daily_news_report/2021/03/05/USDJPY-Charges-Higher-Between-Post-Powell-Yield-Rally-and-Nasdaq-Breakdown.html https://t.co/ZskVYuIpLT
  • Copper is on track to make a sixth consecutive monthly gain as prices inch towards its all-time high. The global backdrop remains supportive despite a short-term pause in the rally. Get your market update from @FxWestwater here:https://t.co/STEYeIG042 https://t.co/5InKDnWH1C
  • RT @globaltimesnews: China's GDP growth target in 2021: above 6 % #TwoSessions2021 https://t.co/3CdQNNOprX
  • Retail trader signals still hint that the Dow Jones and S&P 500 may be at risk, placing the focus on year-long rising trendlines to see if dominant upside biases hold.Get your market update from @ddubrovskyFX here:https://t.co/lFpzIFNmzW https://t.co/ScKuhjL27N
  • Commodities Update: As of 03:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.84% Gold: -0.18% Silver: -0.66% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/0ehtSBFwit
Australian Dollar at Clear Risk of Continued Breakdown

Australian Dollar at Clear Risk of Continued Breakdown

David Rodriguez, Head of Product
Australian Dollar at Clear Risk of Continued Breakdown

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AUDUSD Retail FX traders remain heavily long the Australian Dollar versus the US Dollar, and a contrarian view of crowd sentiment gives reason to believe the AUDUSD fall further.

Trade Implications – AUDUSD:Our retail FX data shows that there are an impressive 2.8 long positions for every position short the AUDUSD—coming close to extremes not seen since May as the AU$ tested key support at $0.9200. In that instance it set an important short-term low before breaking down in September. And though heavily one-sided positions often occur at major market tops/bottoms, the actual extreme is only clear in hindsight. Until we see a sustained shift in sentiment we’ll continue call for AUDUSD weakness.

See next currency section:NZDUSD - New Zealand Dollar Targets Fresh Lows

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

Australian Dollar at Clear Risk of Continued Breakdown

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