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
    1.4149+0.0023+0.16%
    USDSGD=X
    1.5904-0.0075-0.47%
    EURSGD=X
    2.1625+0.0003+0.01%
    GBPSGD=X
    85.0130+0.4875+0.58%
    SGDJPY=X
    5.4777-0.0084-0.15%
    SGDHKD=X
    2.9826+0.0138+0.47%
    SGDMYR=X
    9,990.3896+50.5234+0.51%
    SGDIDR=X
    4.4934-0.0134-0.30%
    SGDCNY=X
    0.9939+0.0029+0.30%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,135.90-3.90-0.34%
    GCZ15.CMX
    14.48-0.14-0.96%
    SIZ15.CMX
    46.81-1.62-3.34%
    ^XAU
    2.32+0.01+0.63%
    HGZ15.CMX
    44.63-0.78-1.72%
    CLV15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.51-0.03
    ^FVX
    2.18-0.02
    ^TNX
    2.94+0.01
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.132+0.004+3.12%
    5DN.SI
    0.310.00-1.59%
    5WA.SI
    0.53+0.01+1.92%
    N21.SI
    0.3050.0000.00%
    E5H.SI
    3.67-0.04-1.08%
    Z74.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.28+0.05+21.74%
    L38.SI
    0.24+0.04+21.21%
    C10.SI
    0.295+0.045+18.00%
    578.SI
    0.485+0.055+12.79%
    MN5.SI
    0.33+0.03+10.00%
    5VI.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.105-0.033-23.91%
    5DL.SI
    0.17-0.03-15.00%
    5G1.SI
    0.094-0.016-14.55%
    F10.SI
    0.095-0.015-13.64%
    T77.SI
    0.14-0.02-12.50%
    T19.SI