FX:AUDUSD   Australian Dollar / U.S. Dollar
Looking across our major currency pairs the Australian Dollar sticks out as our COT analysis shows a significant increase in commercial and non-commercial long contracts over the week. The only element the COT analysis can't give us is timing. So this is where our technical analysis comes into play. The daily chart currently shows a down trending market however this has been the case for AUDUSD for the whole year and we should expect some upside to come especially around the end of the year where AUD usually sees a boost seasonally. Looking for a bullish pattern here before looking for long trades either with a break above the trendline resistance or a bullish pattern potentially a double bottom pattern forming confirming our ideas to go long.

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