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
    1.3952-0.0016-0.11%
    USDSGD=X
    1.5614-0.0157-0.99%
    EURSGD=X
    2.0163-0.0045-0.22%
    GBPSGD=X
    82.3499-0.0636-0.08%
    SGDJPY=X
    5.5853+0.0029+0.05%
    SGDHKD=X
    2.9601-0.027-0.91%
    SGDMYR=X
    9,654.3232-75.0713-0.77%
    SGDIDR=X
    4.7135+0.0694+1.49%
    SGDCNY=X
    0.9899+0.0016+0.17%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,189.60-9.00-0.75%
    GCJ16.CMX
    15.19-0.25-1.64%
    SIH16.CMX
    52.40-1.94-3.57%
    ^XAU
    2.03-0.01-0.42%
    HGH16.CMX
    27.55-0.39-1.40%
    CLH16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.18+0.02
    ^FVX
    1.74+0.01
    ^TNX
    2.550.00
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    1.63-0.05-2.98%
    MC0.SI
    0.325-0.005-1.52%
    N21.SI
    3.66-0.04-1.08%
    Z74.SI
    0.685-0.020-2.84%
    G13.SI
    0.375-0.010-2.60%
    E5H.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.195+0.035+21.87%
    5WR.SI
    0.196+0.026+15.29%
    D79.SI
    0.28+0.03+14.29%
    5SY.SI
    54.640.000.00%
    NF6.SI
    0.39+0.04+11.43%
    AXJ.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    1.30-0.45-25.71%
    5SR.SI
    0.14-0.03-17.16%
    B69.SI
    3.63-0.22-5.71%
    H1O.SI
    0.192-0.023-10.70%
    AWQ.SI
    0.30-0.03-9.09%
    41A.SI