Forex Analysis: Australian Dollar Could Break Further Lows

ssi_aud-usd_body_Picture_12.png, Forex Analysis: Australian Dollar Could Break Further Lows

AUDUSD – Forex trading crowds have bought aggressively into Australian Dollar weakness, and a contrarian view of crowd sentiment leaves us in favor of further declines. The majority of traders are now long for the first time since the AUDUSD traded towards $1.04 in December.

Trade Implications – AUDUSD: Two of our sentiment-based trading strategies are now short AUDUSD from $1.0521 and $1.0478, and a more substantive AUD break below key range lows would leave us plainly in favor of selling AUD strength.

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

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Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3499+0.0013+0.10%
    USDSGD=X
    1.4980+0.0033+0.22%
    EURSGD=X
    2.1082+0.0032+0.15%
    GBPSGD=X
    91.1805-0.0698-0.08%
    SGDJPY=X
    5.7427-0.0053-0.09%
    SGDHKD=X
    2.8031+0.0137+0.49%
    SGDMYR=X
    9,857.0244+6.0371+0.06%
    SGDIDR=X
    4.5977-0.0028-0.06%
    SGDCNY=X
    1.0240-0.0052-0.50%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,166.50+3.00+0.26%
    GCQ15.CMX
    15.65+0.03+0.20%
    SIZ15.CMX
    62.65+1.28+2.08%
    ^XAU
    2.64+0.01+0.23%
    HGU15.CMX
    56.64-0.29-0.51%
    CLQ15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.65-0.06
    ^FVX
    2.39-0.02
    ^TNX
    3.190.00
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.154-0.011-6.67%
    5DN.SI
    0.300.000.00%
    5WA.SI
    0.850.000.00%
    N03.SI
    0.43-0.03-6.52%
    P15.SI
    0.193+0.001+0.52%
    5GB.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.139+0.022+18.80%
    D3W.SI
    0.215+0.031+16.85%
    AZR.SI
    0.53+0.07+16.48%
    BAJ.SI
    0.25+0.02+8.70%
    AZW.SI
    0.55+0.04+6.80%
    41C.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.058-0.062-51.67%
    5TW.SI
    0.089-0.031-25.83%
    40R.SI
    0.31-0.09-22.50%
    AVW.SI
    0.098-0.020-16.95%
    5I1.SI
    0.47-0.08-14.55%
    AZZ.SI