Australian Dollar Not Likely to Break Just Yet

By DailyFx | July 16, 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

comments powered by Disqus
Related Forex Analysis
  1. GBP/USD recovering from Asian lows
    Forex News

    GBP/USD recovering from Asian lows

  2. USD/JPY mellow on the back of USD sell-off
    Forex News

    USD/JPY mellow on the back of USD sell-off

  3. Dollar Cheered in Press, But Data and Fed Chatter Turning
    Forex News

    Dollar Cheered in Press, But Data and Fed Chatter Turning

  4. EUR/USD Downside Targets Favored Ahead of ECB on Slowing Inflation
    Forex News

    EUR/USD Downside Targets Favored Ahead of ECB on Slowing Inflation

  5. US Dollar Technical Analysis: Is a Pullback in the Cards?
    Forex News

    US Dollar Technical Analysis: Is a Pullback in the Cards?

Trading Center