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AUDUSD– Retail forex traders remain net-long the Australian Dollar versus the US Dollar, and a contrarian view of crowd sentiment leaves us focused on continued AUD/USD weakness.
The Australian Dollar remains in a precarious position as it trades near key resistance. Current retail FX trader positioning warns it is likely to fail and trade lower.
See next currency section: NZDUSD - New Zealand Outlook Remains in favor of Depreciation
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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