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Long Positions Leave Mixed Trading Bias on Australian Dollar

Long Positions Leave Mixed Trading Bias on Australian Dollar

Dylan Jusino,
Long Positions Leave Mixed Trading Bias on Australian Dollar

AUDUSD: Retail trader data shows 50.7% of traders are net-long with the ratio of traders long to short at 1.03 to 1. The number of traders net-long is unchanged than yesterday and 4.6% lower from last week, while the number of traders net-short is 1.7% lower than yesterday and 1.1% 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 more net-long than yesterday but less net-long from last week. The combination of current sentiment and recent changes gives us a further mixed AUDUSD trading bias.

--- Written by Dylan Jusino, DailyFX Research

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

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