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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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
    1.3592+0.0066+0.49%
    USDSGD=X
    1.5614+0.0061+0.39%
    EURSGD=X
    1.9685+0.0026+0.13%
    GBPSGD=X
    78.8932-0.2721-0.34%
    SGDJPY=X
    5.7106-0.0287-0.50%
    SGDHKD=X
    2.9631+0.0153+0.52%
    SGDMYR=X
    9,842.3320+33.082+0.34%
    SGDIDR=X
    4.7781-0.0217-0.45%
    SGDCNY=X
    1.0130+0.0007+0.07%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,275.60-16.20-1.25%
    GCM16.CMX
    17.33-0.17-0.97%
    SIN16.CMX
    83.37-3.85-4.42%
    ^XAU
    2.19-0.03-1.40%
    HGN16.CMX
    43.51-0.14-0.32%
    CLM16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.24-0.02
    ^FVX
    1.78-0.02
    ^TNX
    2.64-0.02
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.425-0.005-1.16%
    N21.SI
    0.785-0.020-2.48%
    G13.SI
    3.76-0.07-1.83%
    Z74.SI
    0.385-0.005-1.28%
    E5H.SI
    0.730.000.00%
    Y92.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.48+0.08+20.00%
    BFK.SI
    0.194+0.019+10.86%
    D79.SI
    0.28+0.03+9.80%
    BHO.SI
    0.185+0.015+8.82%
    AYL.SI
    0.50+0.04+8.70%
    BQP.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.088-0.082-48.24%
    P74.SI
    0.30-0.09-23.08%
    Y06.SI
    0.125-0.027-17.76%
    5MQ.SI
    0.21-0.05-17.65%
    Y35.SI
    0.31-0.04-11.43%
    AWK.SI