Australian Dollar Sentiment Shifts into Neutral
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