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 MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.167+0.006+3.73%
    N21.SI
    2.28+0.12+5.56%
    MC0.SI
    0.101-0.005-4.72%
    5I0.SI
    0.38+0.01+4.11%
    5ME.SI
    0.195+0.012+6.56%
    SK3.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.23+0.02+9.52%
    BTF.SI
    0.485+0.040+8.99%
    43F.SI
    0.122+0.010+8.93%
    C9Q.SI
    0.46+0.03+8.24%
    P19.SI
    0.195+0.012+6.56%
    SK3.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.155-0.050-24.39%
    K22.SI
    0.215-0.020-8.51%
    RE4.SI
    1.12-0.09-7.44%
    5SR.SI
    0.68-0.04-5.56%
    564.SI
    1.04-0.06-5.02%
    AYN.SI

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.4243+0.0058+0.41%
    USDSGD=X
    1.5230+0.0117+0.77%
    EURSGD=X
    1.8109+0.0087+0.48%
    GBPSGD=X
    80.3090+0.577+0.72%
    SGDJPY=X
    5.4435-0.0177-0.32%
    SGDHKD=X
    3.1237-0.0022-0.07%
    SGDMYR=X
    9,435.4736-92.2773-0.97%
    SGDIDR=X
    4.8314-0.0172-0.35%
    SGDCNY=X
    1.0580+0.0008+0.08%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,164.80-10.30-0.88%
    GCZ16.CMX
    16.59-0.16-0.94%
    SIZ16.CMX
    82.30+2.99+3.77%
    ^XAU
    2.65+0.04+1.49%
    HGZ16.CMX
    52.04+0.36+0.70%
    CLF17.NYM
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    Bonds
    TreasuryYield (%)Yield Change
    1.83-0.06
    ^FVX
    2.39-0.05
    ^TNX
    3.06-0.03
    ^TYX