Today the index for the AUD/USD from Investing, which shows the percentage of traders with long positions, was released. The new data is 62.2%, whichindicates a bullish situation with this trading instrument.
According to the COT (Commitments of Traders) reports, large speculative players are increasing their net position to buy the AUD/USD for two weeks, while during the previous nine weeks this number was declining. Since July 11 the net position on the purchase began to rise from its lowest levels.
Considering our chart, we are also observing an upward movement and our pair is above the MA (21), which confirms the opportunity to bet on long positions. After overcoming the 0.7635 level, our pair tried to get back to it soon, but reflected itself and again moved upwards.
This is why at the moment the best trading advice is to look for points to enter the long position near the moving average MA (21) and the immediate goals to consider should be the levels of 0.7695 and 0.7720.
