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 MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.23+0.01+2.22%
    N21.SI
    0.385-0.015-3.75%
    E5H.SI
    0.325+0.045+16.07%
    F83.SI
    0.38-0.01-2.56%
    5ME.SI
    0.99-0.01-1.49%
    G13.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.325+0.045+16.07%
    F83.SI
    0.34+0.05+15.25%
    BPF.SI
    0.158+0.019+13.67%
    5TR.SI
    0.52+0.06+13.04%
    T12.SI
    0.695+0.065+10.32%
    BEI.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.79-0.10-11.24%
    AXV.SI
    0.29-0.03-10.77%
    PA3.SI
    1.415-0.140-9.00%
    Q01.SI
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    42G.SI
    0.56-0.03-5.08%
    BDR.SI

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    NamePriceChange% Chg
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    USDSGD=X
    1.4859+0.0064+0.43%
    EURSGD=X
    1.7457-0.0004-0.02%
    GBPSGD=X
    80.3150+0.733+0.92%
    SGDJPY=X
    5.5280+0.0066+0.12%
    SGDHKD=X
    3.1625+0.0032+0.10%
    SGDMYR=X
    9,508.5156-12.4307-0.13%
    SGDIDR=X
    4.8926+0.0071+0.15%
    SGDCNY=X
    1.0777+0.0009+0.08%
    AUDSGD=X
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    CLJ17.NYM
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