Australian Dollar Not Likely to Break Just Yet

By DailyFx | Updated July 30, 2014 AAA

DailyFX.com - Australian Dollar Not Likely to Break Just Yet

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

AUDUSD The Australian Dollar looks at risk as retail traders buy aggressively into recent weakness. Yet low volatility suggests the Aussie currency may remain in a tight range versus its US namesake.

Trade Implications – AUDUSD: We last saw positioning at similar levels as the AU$ bounced off of key support near $0.9330 just two weeks ago. And though we often go against the crowd—selling when everyone is buying and vice versa—most retail traders tend to do well in these low-volatility conditions.

Until we see a material change in market volatility we put low odds of an Australian Dollar breakdown.

See next currency section: GOLD - Gold Prices Target Yearly Highs Near $1390

You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Investing

    AUD/USD Approaching Significant Resistance

  2. Forex News

    Weekly Trading Forecast: FOMC, GDP, Greece and Much More Ahead

  3. Forex News

    AUD/USD to Eye March High on Less-Dovish RBA, Fed Delay

  4. Forex News

    AUD/USD Technical Analysis: Quiet Consolidation Cotninues

  5. Forex News

    AUD/USD Continues to Flirt with Important Behavior Change

Trading Center