Australian Dollar Targets Further Lows
Receive the Weekly Speculative Sentiment Index report via PDF via David’s e-mail distribution list.
Trade Implications – AUDUSD:Retail FX traders are once again heavily net-long the AUDUSD, and a contrarian view of crowd sentiment favors further downside. Last week we cited a sharp shift towards AUD-selling as a key reason the pair could continue higher, but that proved premature at best. It will likely take a much more substantial shift in broader market sentiment to force a meaningful AUDUSD reversal.
See next currency section:NZDUSD - New Zealand Dollar Rally Falls Short
--- 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