BNZ: market’s too short on AUD
Analysts at Bank of New Zealand (BNZ) warn that market players are too short on AUD/USD and recommend market players being cautious.
Last Tuesday speculative net short positioning reached historical extreme of 58.6K contracts. The previous extreme of 51.2K was at the week before June 5 2012 when AUD/USD fell from the levels just under $1.0500 below $0.9600 in 5 weeks. Then Aussie climbed back above $1.0500 in 2 months.