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  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.24%, while traders in NZD/USD are at opposite extremes with 70.95%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/HS5IS3Qyh2
Australian Dollar Likely to Fall Further

Australian Dollar Likely to Fall Further

2015-10-23 14:05:00
David Rodriguez, Head of Product
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Australian Dollar Likely to Fall Further

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See a video on why we use the Speculative Sentiment Index as a contrarian indicator in our trading

AUDUSD –The majority of retail forex traders remains long the Australian Dollar versus its US namesake, and a contrarian view of crowd sentiment leaves us steadily in favor of selling into AUD/USD gains. And indeed ‘the crowd’ has remained long since the pair crossed below $0.80 in May. Until we see a material shift towards selling we see little reason to abandon our long-standing bearish bias.

See next currency section:NZDUSD - New Zealand Dollar Likely to Rally Further

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

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