Speculators turned net short once again shows CFTC data earlier today.  The following chart paints a clear picture showing what I would describe as the biggest short squeeze of all time.  While sentiment remained net negative for the Aussie during 2010 and throughout the majority of 2011, audusd continued its slow and painful gains.

In August, positioning breached the flat line but retreated the following week for a dip.  September saw a surge in Aussie long interest which peaked in October and has since declined.  Today's data shows that once again speculators are net short.