What is the outlook for AUD/USD? Here is their view, courtesy of eFXdata: Credit Agricole CIB Research flags a scope for a downside correction in AUD/USD from the positioning and valuation front. “Our FAST FX and Positioning models suggest downside risk for AUD/USD. The primary model for AUD/USD in our FAST FX model estimates that the exchange rate’s short-term fair value was 0.7468 at the end of last week and that the exchange rate was more than 1.5 standard deviations above this fair value,” CACIB notes. “Our positioning indicator also suggests that the AUD is trading in strongly overbought territory. So, position squaring-related downside risk remains high,” CACIB adds. For lots more FX trades from major banks, sign up to eFXplusBy signing up for eFXplus via the link above, you are directly supporting Forex Crunch. Kenny Fisher Kenny Fisher Kenny Fisher - Senior Writer A native of Toronto, Canada, Kenneth worked for seven years in the marketing and trading departments at Bendix, a foreign exchange company in Toronto. Kenneth is also a lawyer, and has extensive experience as an editor and writer. Kenny's Google Profile View All Post By Kenny Fisher Daily Look share Read Next NZD/USD: Risk Of A Slightly Larger H&S Top Is Growing; Staying Tactically Cautious N-Term – Credit Suisse Kenny Fisher 2 years What is the outlook for AUD/USD? Here is their view, courtesy of eFXdata: Credit Agricole CIB Research flags a scope for a downside correction in AUD/USD from the positioning and valuation front. "Our FAST FX and Positioning models suggest downside risk for AUD/USD. The primary model for AUD/USD in our FAST FX model estimates that the exchange rate's short-term fair value was 0.7468 at the end of last week and that the exchange rate was more than 1.5 standard deviations above this fair value," CACIB notes. "Our positioning indicator also suggests that the AUD is trading in strongly overbought territory.… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
