Australian Dollar Forecast: AUD/USD Grinds into Downtrend Resistance

Australian Dollar is poised for a breakout as price coils into multi-month downtrend resistance. Here are the levels that matter on the AUD/USD technical charts.

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Germany 30 IG Client Sentiment: Our data shows traders are now at their most net-long Germany 30 since Mar 19 when Germany 30 traded near 8,568.70.

Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger Germany 30-bearish contrarian trading bias.

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Wall Street IG Client Sentiment: Our data shows traders are now net-long Wall Street for the first time since Sep 25, 2020 when Wall Street traded near 27,144.50.

Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger Wall Street-bearish contrarian trading bias.

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GBP/USD IG Client Sentiment: Our data shows traders are now net-long GBP/USD for the first time since Oct 16, 2020 when GBP/USD traded near 1.29.

Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger GBP/USD-bearish contrarian trading bias.

from DailyFX – pages/rss.rss-list.technical-analysis https://bit.ly/3e0b0cm
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Wall Street IG Client Sentiment: Our data shows traders are now net-long Wall Street for the first time since Sep 25, 2020 when Wall Street traded near 27,144.50.

Traders are further net-long than yesterday and last week, and the combination of current sentiment and recent changes gives us a stronger Wall Street-bearish contrarian trading bias.

from DailyFX – pages/rss.rss-list.technical-analysis https://bit.ly/2TtArtr
via IFTTT