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Australian Dollar Outlook Unclear until this Changes

Australian Dollar Outlook Unclear until this Changes

David Rodriguez, Head of Product
Australian Dollar Outlook Unclear until this Changes

Why and how do we use IG Client Sentiment in trading? See our guide and real-time data.

AUDUSD: Retail trader data shows 38.3% of traders are net-long with the ratio of traders short to long at 1.61 to 1. In fact, traders have remained net-short since Jun 04 when AUDUSD traded near 0.74988; price has moved 5.8% higher since then. The number of traders net-long is 21.0% higher than yesterday and 11.3% higher from last week, while the number of traders net-short is 7.7% higher than yesterday and 10.1% higher from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-short suggests AUDUSD prices may continue to rise. Yet traders are less net-short than yesterday and compared with last week. Recent changes in sentiment warn that the current AUDUSD price trend may soon reverse lower despite the fact traders remain net-short.

See next article in this week’s report: S&P 500 - Forecast Shifts Sharply as Traders Change Direction

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