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Australian Dollar May Continue Lower versus US Dollar

Australian Dollar May Continue Lower versus US Dollar

David Rodriguez, Head of Product


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AUDUSD– Retail forex traders remain short the Australian Dollar versus the US Dollar, and a contrarian view of crowd sentiment calls for further near-term gains.

Our data shows that traders have remained net-short with little interruption since the AUD/USD traded above $0.7100 through mid-November. Until this changes we see little reason to call for a meaningful AUD pullback.

See next currency section: NZDUSD - New Zealand Dollar Forecast to Strengthen Further

--- Written by David Rodriguez, Quantitative Strategist for

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