AUDUSD – Forex trading crowds have mostly sold into recent Australian Dollar strength, and a contrarian view of popular sentiment leaves us in favor of continued AUDUSD gains.
Trade Implications – AUDUSD: Our sentiment-basedMomentum2 system has done well buying into AUD gainsas crowds have done the opposite. And indeed we believe it may continue to do well as a substantial shift in trader positions favors AUDUSD strength. It will be critical to watch the Australian Dollar’s reaction near its 2012 low, but so far it seems like it may continue higher. Receive any and all updates on sentiment on my e-mail distribution list via this link.
— Written by David Rodriguez, Quantitative Strategist for DailyFX.com
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