Australian Dollar Likely to Continue Higher

By DailyFx | Updated July 30, 2014 AAA

DailyFX.com - Australian Dollar Likely to Continue Higher

Receive the Weekly Speculative Sentiment Index report via PDF via David’s e-mail distribution list.

AUDUSDRetail FX traders have sold aggressively into recent Australian Dollar gains, and a contrarian view of crowd sentiment suggests the AUDUSD may hit further highs.

Trade Implications – AUDUSD: Two weeks ago we highlighted a key shift in Aussie Dollar sentiment as an important reason that it would continue to hold key lows versus its US namesake. And indeed the combination of a larger shift towards crowd selling and the break higher in price leaves our focus higher. Total short interest is now at its highest since the AUDUSD traded near yearly highs in April, and until we see a shift in sentiment we’ll watch for further gains.

See next currency section: GOLD - Gold Prices May Rally Further off of Lows

You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    US Dollar May Rise if Home Sales Top Estimates, Boosting Fed Outlook

  2. Forex News

    AUD/USD Technical Analysis: Digesting Above 0.81 Figure

  3. Forex News

    Yen Down on Risk Appetite Swell But Year-End Flows May Fuel Turn

  4. Forex News

    AUD/USD Technical Analysis: Support Found Above 0.81

  5. Forex News

    AUD/USD Exhaustion Trade- Shorts at Risk Above 8064

Trading Center