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Sep 14 - 02:55 PM

AUD: The Biggest G10 Short; Oversold & Set To Bounce N-Term - Credit Agricole

By eFXdata  —  Sep 14 - 01:30 PM

Credit Agricole CIB Research flags a long AUD/USD signal from its positioning model.

"The AUD remains the biggest G10 FX short at present and experienced fresh selling last week, according to our positioning data despite evidence of net buying from our FX flow data. A closer look at these flows suggests that all client groups have been buying the AUD over the past week," CACIB notes. 

"The latest surge in AUD selling has pushed the positioning index for the currency below its two-month average and therefore into oversold territory," CACIB adds. 

Source:
Crédit Agricole Research/Market Commentary

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