Signal: Neutral
AUD: The 52 and 13 week COT indexes are at 47 and 83 and have rolled over (slope is now negative). We wrote last week that “bulls should be careful here because the 13 week index is close to 100, indicating that the bullish boat is beginning to get a bit too crowded.” The 52 week index suggests that the Aussie could continue gaining while the 13 week index is suggestive of a top. Until things clear up, we will calssify conditions as neutral.