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
    1.3755+0.0019+0.14%
    USDSGD=X
    1.5328-0.0045-0.30%
    EURSGD=X
    2.0143-0.0002-0.01%
    GBPSGD=X
    79.8385-0.0713-0.09%
    SGDJPY=X
    5.6457-0.0089-0.16%
    SGDHKD=X
    2.9649+0.0079+0.27%
    SGDMYR=X
    9,873.0254+2.6162+0.03%
    SGDIDR=X
    4.7733+0.0012+0.03%
    SGDCNY=X
    0.9898-0.0026-0.26%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,218.60-4.10-0.34%
    GCQ16.CMX
    16.28-0.06-0.39%
    SIN16.CMX
    81.58-0.54-0.66%
    ^XAU
    2.11+0.01+0.33%
    HGN16.CMX
    48.91-0.57-1.15%
    CLN16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.35+0.01
    ^FVX
    1.83+0.01
    ^TNX
    2.64+0.01
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.305-0.005-1.61%
    N21.SI
    0.895+0.010+1.13%
    Y92.SI
    0.735+0.025+3.52%
    G13.SI
    3.93+0.07+1.81%
    Z74.SI
    1.0050.0000.00%
    C22.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.245+0.030+13.95%
    F86.SI
    0.255+0.025+10.87%
    PA3.SI
    0.275+0.025+10.00%
    K29.SI
    0.335+0.030+9.84%
    F03.SI
    0.62+0.05+7.83%
    BMA.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.405-0.120-22.86%
    AWE.SI
    0.22-0.04-15.38%
    BKZ.SI
    0.55-0.10-15.38%
    N0Z.SI
    0.455-0.075-14.15%
    BJE.SI
    0.145-0.019-11.59%
    5G1.SI