Australian Dollar Expected to Decline versus US Dollar
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Australian Dollar Expected to Decline versus US Dollar

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Australian Dollar Expected to Decline versus US Dollar

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AUDUSD: Retail trader data shows 52.6% of traders are net-long with the ratio of traders long to short at 1.11 to 1. The number of traders net-long is 8.6% higher than yesterday and 42.8% higher from last week, while the number of traders net-short is 12.1% higher than yesterday and 21.1% lower from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests AUDUSD prices may continue to fall. Positioning is less net-long than yesterday but more net-long from last week. The combination of current sentiment and recent changes gives us a further mixed AUDUSD trading bias.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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