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
    0.145+0.002+1.40%
    5DM.SI
    0.365+0.005+1.39%
    E5H.SI
    0.1360.0000.00%
    N21.SI
    3.97-0.01-0.25%
    Z74.SI
    0.265-0.005-1.85%
    5ME.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.245+0.015+6.52%
    5RE.SI
    0.750.00+0.67%
    5TG.SI
    0.56+0.04+6.67%
    BJE.SI
    0.44+0.02+4.76%
    5SO.SI
    0.225+0.010+4.65%
    I49.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.15-0.02-10.71%
    A04.SI
    0.28-0.02-6.67%
    S71.SI
    0.58-0.04-5.69%
    BMH.SI
    0.305-0.015-4.69%
    U6C.SI
    0.48-0.02-3.03%
    T03.SI

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3606+0.0025+0.18%
    USDSGD=X
    1.5285+0.0049+0.32%
    EURSGD=X
    1.7662+0.009+0.51%
    GBPSGD=X
    74.0980-0.024-0.03%
    SGDJPY=X
    5.6993-0.0062-0.11%
    SGDHKD=X
    3.0396+0.0128+0.42%
    SGDMYR=X
    9,619.8584-35.6748-0.37%
    SGDIDR=X
    4.9063-0.0003-0.01%
    SGDCNY=X
    1.0353+0.0003+0.03%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,340.10-4.60-0.34%
    GCZ16.CMX
    19.73-0.37-1.86%
    SIZ16.CMX
    95.76-3.02-3.05%
    ^XAU
    2.190.00+0.02%
    HGZ16.CMX
    43.85+0.41+0.94%
    CLV16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.15-0.02
    ^FVX
    1.62-0.02
    ^TNX
    2.34-0.01
    ^TYX