Australian Dollar Expected to Decline versus US Dollar
Why and how do we use IG Client Sentiment in trading? See our guide.
AUDUSD: Retail trader data shows 52.6% of traders are net-long with the ratio of traders long to short at 1.11 to 1. The number of traders net-long is 8.6% higher than yesterday and 42.8% higher from last week, while the number of traders net-short is 12.1% higher than yesterday and 21.1% lower from last week.
We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests AUDUSD prices may continue to fall. Positioning is less net-long than yesterday but more net-long from last week. The combination of current sentiment and recent changes gives us a further mixed AUDUSD trading bias.
DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.