Australian Dollar Forecast to Hit Fresh Peaks
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AUDUSD– Retail forex traders remain net-long the Australian Dollar versus the US Dollar, but a recent shift towards crowd selling warns that we may be in the midst of an important shift in trend. It will be important to keep an eye on near-term resistance at the 0.7150 for confirmation that the AUD/USD has indeed turned higher.
See next currency section: NZDUSD - New Zealand Outlook Depends on this Shift
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.