FOREX ANALYSIS: Australian Dollar Forecast to Fall Further

ssi_aud-usd_body_Picture_10.png, FOREX ANALYSIS: Australian Dollar Forecast to Fall Further

AUDUSD – Retail forex trading crowds have bought aggressively into Australian Dollar weakness against the US Dollar (ticker: USDOLLAR), and our contrarian view of crowd sentiment leaves us in favor of further AUDUSD weakness. Last week we likewise wrote of a key technical turnaround and that one of our sentiment-based trading strategies had sold AUDUSD from $1.0546. Betting on major reversals is always risky, but we see further evidence that the Australian Dollar set an important top versus its US namesake.

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

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Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.4011-0.0051-0.37%
    USDSGD=X
    1.5807+0.0061+0.39%
    EURSGD=X
    2.0187-0.01-0.49%
    GBPSGD=X
    81.7655-0.4354-0.53%
    SGDJPY=X
    5.5661+0.0253+0.46%
    SGDHKD=X
    2.9736-0.0049-0.16%
    SGDMYR=X
    9,725.1973-24.1426-0.25%
    SGDIDR=X
    4.6956+0.0206+0.44%
    SGDCNY=X
    0.9801-0.0158-1.58%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,198.40+0.50+0.04%
    GCJ16.CMX
    15.40-0.03-0.20%
    SIH16.CMX
    56.78+1.47+2.66%
    ^XAU
    2.03-0.06-3.09%
    HGH16.CMX
    29.80+0.11+0.37%
    CLH16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.13-0.12
    ^FVX
    1.72-0.12
    ^TNX
    2.56-0.12
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.33+0.02+4.76%
    N21.SI
    3.70+0.22+6.32%
    Z74.SI
    1.68+0.05+3.07%
    MC0.SI
    0.385+0.010+2.67%
    E5H.SI
    0.705+0.025+3.68%
    G13.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.405+0.065+19.12%
    T4B.SI
    0.475+0.075+18.75%
    Y06.SI
    0.23+0.03+15.00%
    S9B.SI
    0.40+0.05+14.29%
    BJE.SI
    0.144+0.014+10.77%
    AWS.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.34-0.05-12.82%
    MN5.SI
    0.118-0.012-9.23%
    AWO.SI
    0.205-0.020-8.89%
    AYL.SI
    0.505-0.045-8.18%
    A05.SI
    0.193-0.017-8.10%
    S71.SI