U.S. Markets open in 3 hrs 11 mins

Australian Dollar Showing Signs of Bullish Continuation

Christopher Vecchio


ssi_aud-usd_body_x0000_i1038.png, Australian Dollar Showing Signs of Bullish Continuation

AUDUSDRetail forex traders are now net short the Australian Dollar against the US Dollar for the first time since April, suggesting that the AUDUSD rebound may have officially begun.


Trade Implications – AUDUSD: Traders have capitulated after the pair has rebounded over six and a half percent from its August lows and have embraced the potential technical turnaround. Ideally sentiment would drop further in line with a rise in price to confirm the bottom in AUDUSD before additional longs are taken, but we are increasingly bullish here.



--- Written by Christopher Vecchio, Currency Analyst for DailyFX.com



ssi_aud-usd_body_x0000_i1043.png, Australian Dollar Showing Signs of Bullish Continuation

Automate our SSI-based trading strategies via Mirror Trader free of charge


Contact Christopher via email at cvecchio@dailyfx.com.

Twitter at https://www.twitter.com/CVecchioFX

Facebook at http://www.Facebook.com/CVecchioFX


DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.