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
    0.115+0.013+12.75%
    40F.SI
    0.174+0.002+1.16%
    N21.SI
    0.106+0.004+3.92%
    AAJ.SI
    0.199+0.014+7.57%
    DU4.SI
    0.182-0.002-1.09%
    40E.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.169+0.044+35.20%
    5PI.SI
    0.115+0.013+12.75%
    40F.SI
    0.60+0.05+9.09%
    BQP.SI
    0.152+0.012+8.57%
    A04.SI
    0.199+0.014+7.57%
    DU4.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.19-0.03-15.56%
    BTJ.SI
    0.38-0.07-15.56%
    AYB.SI
    0.445-0.075-14.42%
    E8Z.SI
    0.181-0.029-13.81%
    BCV.SI
    0.10-0.02-13.04%
    42L.SI

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.4292+0.0004+0.03%
    USDSGD=X
    1.5154-0.0035-0.23%
    EURSGD=X
    1.7583+0.0066+0.38%
    GBPSGD=X
    80.6630+0.51+0.64%
    SGDJPY=X
    5.4246-0.0014-0.03%
    SGDHKD=X
    3.1136-0.0216-0.69%
    SGDMYR=X
    9,389.5703+20.7656+0.22%
    SGDIDR=X
    4.7996+0.016+0.33%
    SGDCNY=X
    1.0777+0.0047+0.44%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,196.60-15.50-1.28%
    GCG17.CMX
    16.77-0.50-2.92%
    SIH17.CMX
    86.74-1.23-1.40%
    ^XAU
    2.610.00-0.19%
    HGH17.CMX
    51.63+0.55+1.08%
    CLG17.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.97+0.08
    ^FVX
    2.46+0.07
    ^TNX
    3.03+0.05
    ^TYX