Australian Dollar Poised for Continued Weakness

By DailyFx | Updated August 21, 2014 AAA

DailyFX.com - Australian Dollar Poised for Continued Weakness

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

AUDUSD The majority of retail traders have remained long the Australian Dollar versus the USD since the pair turned lower from July highs near $0.9470. Our trading bias remains in favor of AUDUSD weakness.

Trade Implications – AUDUSD:The recent AUD bounce off of multi-month lows suggests that the pace of declines might slow, but we believe that a breakabove month-to-date highs near $0.9360 is necessary to call for a more important bounce. We would likewise need to see crowds selling into any such AUDUSD rally.

See next currency section: SPX500 - S&P 500 Seems Unbreakable, We Favor further Gains

Related Forex Analysis
  1. AUD/USD Technical Analysis: Waiting to Confirm Reversal
    Forex News

    AUD/USD Technical Analysis: Waiting to Confirm Reversal

  2. AUD/USD Slopfest Will Produce Next Trend Move
    Forex News

    AUD/USD Slopfest Will Produce Next Trend Move

  3. Australian Dollar Remains in Clear Downtrend
    Forex News

    Australian Dollar Remains in Clear Downtrend

  4. Ranges Persist in USD-Pairs Post-FOMC Meeting
    Forex News

    Ranges Persist in USD-Pairs Post-FOMC Meeting

  5. AUD/USD Technical Analysis: Down Trend Ready to Resume?
    Forex News

    AUD/USD Technical Analysis: Down Trend Ready to Resume?

Trading Center