AUD/USD Bias May Shift to Bearish Before RBA on Tuesday

| 29 september, 2017 | 0 kommentarer

AUD/USD Bias May Shift to Bearish Before RBA on Tuesday

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AUDUSD: Retail merchant information shows 47.9% of traders are net-long with a ratio of traders brief to prolonged during 1.09 to 1. In fact, traders have remained net-short given Jun 04 when AUDUSD traded nearby 0.74145; cost has changed 5.8% aloft given then. The series of traders net-long is 1.2% aloft than yesterday and 35.3% aloft from final week, while a series of traders net-short is 3.2% reduce than yesterday and 28.2% reduce from final week.

We typically take a contrarian perspective to throng sentiment, and a fact traders are net-short suggests AUDUSD prices might continue to rise. Yet traders are reduction net-short than yesterday and compared with final week. Recent changes in view advise that a stream AUDUSD cost trend might shortly retreat reduce notwithstanding a fact traders sojourn net-short.

— Written by Christopher Vecchio, CFA, Senior Currency Strategist

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Kategori: Analys från DailyFX

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