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. Forex News

    AUD/USD Technical Analysis: Aussie Preparing to Recover?

  2. Forex News

    USD Eyes FOMC Meeting amid Perceived Policy Divergence

  3. Forex News

    US Dollar May Fall as FOMC Fails to Fuel Interest Rate Hike Bets

  4. Investing

    AUD/USD: No Need to Fight the Trend

  5. Forex News

    AUD/USD Technical Analysis: Support Found Below 0.79

Trading Center