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

To receive the Speculative Sentiment Index and other reports from this author via e-mail, sign up for his distribution list via this link.

New to FX markets? Learn more in our video trading guide.

Contact David via

Twitter at https://www.twitter.com/DRodriguezFX

Facebook at http://www.Facebook.com/DRodriguezFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.

--

Get stories like this on the Yahoo app and discover more every day.
Download it now.
Loading...
 
Recent Quotes
Symbol Price Change % Chg 
Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
You need to enable your browser cookies to view your most recent quotes.
 
Sign-in to view quotes in your portfolios.

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3752+0.0044+0.32%
    USDSGD=X
    1.5097+0.0045+0.30%
    EURSGD=X
    2.1504+0.008+0.38%
    GBPSGD=X
    90.1955-0.1788-0.20%
    SGDJPY=X
    5.6371-0.0178-0.32%
    SGDHKD=X
    2.8018+0.013+0.47%
    SGDMYR=X
    9,820.5400-35.0332-0.36%
    SGDIDR=X
    4.5135-0.0163-0.36%
    SGDCNY=X
    1.0037+0.0015+0.15%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,095.40+0.50+0.05%
    GCQ15.CMX
    14.75-0.04-0.28%
    SIZ15.CMX
    47.57+0.92+1.98%
    ^XAU
    2.35-0.02-0.74%
    HGU15.CMX
    48.46-0.46-0.94%
    CLZ15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.55-0.07
    ^FVX
    2.20-0.06
    ^TNX
    2.93-0.03
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.485+0.030+6.59%
    N21.SI
    2.17-0.13-5.65%
    MC0.SI
    0.310.00-1.59%
    E5H.SI
    0.126-0.008-5.97%
    5DN.SI
    0.3150.0000.00%
    5WA.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.46+0.07+17.95%
    AZZ.SI
    0.27+0.04+17.39%
    5WR.SI
    0.29+0.04+16.00%
    5NF.SI
    0.195+0.025+14.71%
    D79.SI
    1.25+0.16+14.68%
    AXL.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.10-0.22-69.23%
    5I3.SI
    0.13-0.04-23.08%
    5MC.SI
    0.08-0.04-32.77%
    5BK.SI
    0.445-0.105-19.09%
    BBQ.SI
    0.21-0.04-16.00%
    AWS.SI