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Australian Dollar Sentiment Shifts into Neutral

Australian Dollar Sentiment Shifts into Neutral

Christopher Vecchio, CFA, Senior Strategist

AUDUSD - The ratio of long to short positions in the AUDUSD stands at 1.02 as 51% of traders are long. We use our SSI as a contrarian indicator to price action, and the fact that the majority of traders are long gives signal that the AUDUSD may continue lower. The trading crowd has flipped from net-short to net-long from yesterday but unchanged since last week. The combination of current sentiment and recent changes gives a further mixed trading bias.

--- Written by Christopher Vecchio, Currency Strategist

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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