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Australian Dollar Rally at Risk at these Levels

May 15, 2014

David Rodriguez

Australian Dollar Rally at Risk at these Levels



AUDUSD - Indecisive retail forex sentiment in the Australian Dollar gives us pause on our earlier calls for gains. And indeed we will need to see a significant build in crowd selling before calling for AUD gains.



Trade Implications - AUDUSD: The trading herd recently turned net-short the AUDUSD for the first time since the pair set a top in April, and that was a major reason we called for further strength. Yet the Aussie Dollar's failure to hold above the key $0.9400 mark warns of potential failure here. And indeed we'll need to see a further build in crowd selling before calling for AUD strength.



See next currency section: GOLD - Failure Leaves Gold Prices Vulnerable to Major Declines





Australian Dollar Rally at Risk at these Levels







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Source: DailyFx


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