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
    0.164-0.002-1.20%
    N21.SI
    0.162+0.017+11.72%
    40E.SI
    1.025+0.045+4.59%
    G13.SI
    0.094-0.007-6.93%
    5I0.SI
    0.44+0.01+2.33%
    E5H.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.162+0.017+11.72%
    40E.SI
    0.525+0.050+10.53%
    43F.SI
    0.45+0.04+9.76%
    BJV.SI
    0.34+0.03+9.68%
    P9D.SI
    0.13+0.01+9.24%
    O9E.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.485-0.100-17.09%
    L5I.SI
    0.198-0.037-15.74%
    40D.SI
    0.37-0.04-9.76%
    BLL.SI
    0.285-0.030-9.52%
    BFU.SI
    0.215-0.020-8.51%
    AWI.SI

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.4163-0.0005-0.03%
    USDSGD=X
    1.5245+0.0007+0.05%
    EURSGD=X
    1.7909+0.0032+0.18%
    GBPSGD=X
    80.2410+0.052+0.06%
    SGDJPY=X
    5.4744+0.0016+0.03%
    SGDHKD=X
    3.12910.000.00%
    SGDMYR=X
    9,437.9658-2.0742-0.02%
    SGDIDR=X
    4.8551+0.0024+0.05%
    SGDCNY=X
    1.0613+0.0008+0.08%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,172.60-2.40-0.20%
    GCZ16.CMX
    17.12-0.08-0.48%
    SIZ16.CMX
    82.57+0.42+0.51%
    ^XAU
    2.640.00+0.11%
    HGZ16.CMX
    49.98+0.21+0.42%
    CLF17.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.80-0.04
    ^FVX
    2.35-0.05
    ^TNX
    3.03-0.05
    ^TYX