Key Shift in Sentiment May Pull Australian Dollar Lower

Key Shift in Sentiment explained by professional Forex trading experts the “Key Shift in Sentiment” FX trading team.

Key Shift in Sentiment

AUDUSD: Retail trader data shows 59.5% of traders are net-long with the ratio of traders long to short at 1.47 to 1. The percentage of traders net-long is now its highest since Apr 17 when AUDUSD traded near 0.75858. The number of traders net-long is 2.9% higher than yesterday and 11.1% higher from last week, while the number of traders net-short is 14.8% lower than yesterday and 22.7% lower from last week.

We typically take a contrarian view to crowd sentiment, and the fact traders are net-long suggests AUDUSD prices may continue to fall. Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger AUDUSD-bearish contrarian trading bias.

Key Shift in Sentiment Conclusion

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