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
    1.3625-0.003-0.22%
    USDSGD=X
    1.5267-0.0002-0.01%
    EURSGD=X
    2.0970-0.0007-0.03%
    GBPSGD=X
    87.8096-0.1838-0.21%
    SGDJPY=X
    5.6913+0.0118+0.21%
    SGDHKD=X
    2.6648+0.0056+0.21%
    SGDMYR=X
    9,507.9102-9.4932-0.10%
    SGDIDR=X
    4.6069+0.0128+0.28%
    SGDCNY=X
    1.0674+0.0077+0.72%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,220.00+6.90+0.57%
    GCJ15.CMX
    16.74+0.18+1.10%
    SIK15.CMX
    75.26-1.68-2.18%
    ^XAU
    2.71+0.02+0.65%
    HGK15.CMX
    49.23-0.53-1.07%
    CLJ15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.58+0.07
    ^FVX
    2.08+0.08
    ^TNX
    2.68+0.09
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.42+0.02+5.00%
    E5H.SI
    100.012-0.0020.00%
    41H.SI
    1.005+0.060+6.35%
    N21.SI
    0.054-0.063-53.85%
    F3V.SI
    1.242-0.011-0.88%
    41I.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.138+0.018+15.00%
    5WG.SI
    0.18+0.02+12.50%
    PH0.SI
    0.162+0.016+10.96%
    5OU.SI
    0.21+0.02+10.53%
    5RE.SI
    1.005+0.060+6.35%
    N21.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.054-0.063-53.85%
    F3V.SI
    0.19-0.06-22.45%
    5TS.SI
    0.157-0.018-10.29%
    K6J.SI
    0.146-0.014-8.75%
    C3T.SI
    0.275-0.025-8.33%
    CZ4.SI