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
    1.3738+0.003+0.22%
    USDSGD=X
    1.5088+0.0036+0.24%
    EURSGD=X
    2.1468+0.0044+0.21%
    GBPSGD=X
    90.2577-0.1166-0.13%
    SGDJPY=X
    5.6423-0.0127-0.22%
    SGDHKD=X
    2.7840-0.0047-0.17%
    SGDMYR=X
    9,830.4121-25.1611-0.26%
    SGDIDR=X
    4.5203-0.0095-0.21%
    SGDCNY=X
    1.0026+0.0003+0.03%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,095.10+0.20+0.02%
    GCQ15.CMX
    14.76-0.03-0.22%
    SIZ15.CMX
    47.57+0.92+1.98%
    ^XAU
    2.35-0.01-0.47%
    HGU15.CMX
    48.65-0.27-0.55%
    CLZ15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.55-0.07
    ^FVX
    2.20-0.06
    ^TNX
    2.93-0.03
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.485+0.030+6.59%
    N21.SI
    2.17-0.13-5.65%
    MC0.SI
    0.3150.0000.00%
    E5H.SI
    0.127-0.007-5.22%
    5DN.SI
    0.3150.0000.00%
    5WA.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.465+0.075+19.23%
    AZZ.SI
    0.27+0.04+17.39%
    5WR.SI
    0.29+0.04+16.00%
    5NF.SI
    0.18+0.02+12.50%
    5PD.SI
    0.55+0.06+11.11%
    AWZ.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.18-0.14-44.62%
    5I3.SI
    0.08-0.04-32.77%
    5BK.SI
    0.137-0.032-18.93%
    5MC.SI
    0.151-0.019-11.18%
    K22.SI
    0.181-0.019-9.50%
    D38.SI