AUDUSD – Forex trading crowds remain long the Australian Dollar as it tests post-FOMC meeting lows of $0.9340, and exceedingly low volatility suggests the AUDUSD may stick to a tight trading range.
Trade Implications – AUDUSD: A small majority of retail FX traders remain long AUDUSD at range lows. Until we see a bigger shift in market conditions, we see little reason to go against the crowd—56 percent of which are currently long AUDUSD.
— Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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