AUDUSD – Retail forex trading speculators continue to buy into Australian Dollar weakness, and we see little choice but to call for further AUDUSD declines.
Trade Implications – AUDUSD: We once again tried calling for an Australian Dollar turnaround last week, and we were once again forced to reconsider as the AUDUSD got slammed right back down. What now? The recent build in crowd long positions leaves us in favor of continued Aussie depreciation.
--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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