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Australian dollar – Retail 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
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