AUD/USD Show Mixed Signals,Market Sentiment Remains Wait-and-See
The Dollar Index kicked off the new week with an optimistic tone; however, the overall outlook for the currency appears to be in a state of hesitation. In my view, August may likely see limited volatility, with few significant movements on the horizon. Meanwhile, AUD futures (6A1!) indicate a consolidation around a previous supply zone, suggesting a potential pullback before reaching the next major supply level. Additionally, data shows an increase in short positions among non-commercial traders, which could hint at a possible bearish trend emerging in the near future.
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