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
    1.4174+0.0016+0.12%
    USDSGD=X
    1.5754-0.0136-0.86%
    EURSGD=X
    2.1645-0.0019-0.09%
    GBPSGD=X
    84.8336-0.1814-0.21%
    SGDJPY=X
    5.4683-0.0059-0.11%
    SGDHKD=X
    2.9924+0.0144+0.48%
    SGDMYR=X
    10,016.9727+1.0098+0.01%
    SGDIDR=X
    4.4851-0.0046-0.10%
    SGDCNY=X
    0.9928-0.0039-0.39%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,122.90-10.70-0.94%
    GCZ15.CMX
    14.59-0.08-0.52%
    SIZ15.CMX
    46.23-0.58-1.23%
    ^XAU
    2.38+0.05+2.12%
    HGZ15.CMX
    46.37+0.12+0.26%
    CLV15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.48-0.03
    ^FVX
    2.16-0.02
    ^TNX
    2.930.00
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.310.000.00%
    5WA.SI
    0.1320.0000.00%
    5DN.SI
    0.13+0.01+10.17%
    5GJ.SI
    3.70+0.03+0.82%
    Z74.SI
    0.140.00+3.70%
    AFC.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.205+0.047+29.75%
    L02.SI
    0.59+0.08+15.69%
    UD3.SI
    0.17+0.02+13.33%
    40N.SI
    0.19+0.02+11.76%
    5G1.SI
    0.195+0.019+10.80%
    KJ5.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.415-0.070-14.43%
    MN5.SI
    0.117-0.018-13.33%
    510.SI
    0.124-0.016-11.43%
    TI6.SI
    0.66-0.08-10.81%
    AXV.SI
    0.55-0.06-10.57%
    AXZ.SI