Forex Analysis: Australian Dollar Could Break Lower

ssi_aud-usd_body_Picture_10.png, Forex Analysis: Australian Dollar Could Break Lower

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AUDUSD – An important turn in Australian Dollar trading sentiment suggests that the pair may continue to stall at important highs versus the US Dollar. Retail crowds remain net-short AUDUSD, but short interest has fallen a significant 26% since last week while longs have surged by 43%.

Trade Implications – AUDUSD: One of our sentiment-based trading strategies has most recently gone short AUDUSD from $1.0514, but it will be important to watch whether the pair breaks out of its long-term consolidation pattern before advocating a short position.

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
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Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3422-0.0026-0.20%
    USDSGD=X
    1.5278+0.001+0.07%
    EURSGD=X
    1.9656+0.0017+0.09%
    GBPSGD=X
    80.0075-0.3733-0.46%
    SGDJPY=X
    5.7799+0.0114+0.20%
    SGDHKD=X
    2.8966+0.0086+0.30%
    SGDMYR=X
    9,830.5088+19.001+0.19%
    SGDIDR=X
    4.8217+0.0066+0.14%
    SGDCNY=X
    1.0258-0.0004-0.04%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,277.30+10.90+0.86%
    GCM16.CMX
    17.80+0.21+1.21%
    SIN16.CMX
    86.90+3.46+4.15%
    ^XAU
    2.230.00+0.09%
    HGN16.CMX
    45.83-0.20-0.43%
    CLM16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.30-0.04
    ^FVX
    1.84-0.02
    ^TNX
    2.690.00
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.755-0.005-0.66%
    Y92.SI
    0.405+0.010+2.53%
    E5H.SI
    0.45-0.01-1.10%
    N21.SI
    3.860.000.00%
    Z74.SI
    0.82-0.01-1.20%
    G13.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.125+0.015+13.64%
    AZG.SI
    0.91+0.09+10.30%
    A23.SI
    0.205+0.005+2.50%
    AFC.SI
    0.215+0.005+2.38%
    O9E.SI
    0.47+0.02+4.44%
    AVZ.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.265-0.030-10.17%
    593.SI
    0.725-0.005-0.68%
    BOL.SI
    39.03-1.21-3.01%
    C07.SI
    0.775-0.025-3.13%
    H22.SI
    1.58-0.03-1.86%
    S08.SI