Australian Dollar Likely to Fall to Fresh Lows

DailyFX

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ssi_aud-usd_body_Picture_19.png, Australian Dollar Likely to Fall to Fresh Lows

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Australian dollarRetail forex traders continue buying into Australian Dollar weakness, and our sentiment-based trading systems have sold consistently into declines.

Trade Implications – AUDUSD: Our SSI-based Momentum2 strategy most recently closed an Australian Dollar-short position at a modest loss as the pair held short-term lows. Yet our Senior Technical Strategist highlights that the bigger picture favors AUDUSD weakness, and indeed our sentiment-based systems could once again do well selling into weakness.

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

ssi_aud-usd_body_Picture_13.png, Australian Dollar Likely to Fall to Fresh Lows

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