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
    1.3752+0.0051+0.37%
    USDSGD=X
    1.4882-0.0035-0.24%
    EURSGD=X
    2.0352-0.0048-0.23%
    GBPSGD=X
    87.3255+0.3428+0.39%
    SGDJPY=X
    5.6393-0.0198-0.35%
    SGDHKD=X
    2.6985+0.013+0.48%
    SGDMYR=X
    9,521.8916-19.7568-0.21%
    SGDIDR=X
    4.5131-0.0193-0.43%
    SGDCNY=X
    1.0519-0.0077-0.73%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,184.30-15.50-1.29%
    GCJ15.CMX
    16.67-0.40-2.34%
    SIK15.CMX
    66.40-1.33-1.96%
    ^XAU
    2.78+0.01+0.38%
    HGK15.CMX
    48.46-0.41-0.84%
    CLK15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.420.00
    ^FVX
    1.96+0.01
    ^TNX
    2.56+0.03
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.170.00+1.80%
    5GB.SI
    0.134+0.003+2.29%
    E13.SI
    0.2850.0000.00%
    5WA.SI
    0.144+0.003+2.13%
    5G9.SI
    0.77+0.02+3.36%
    Y92.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.18+0.02+13.92%
    M11.SI
    0.113+0.012+11.88%
    5MM.SI
    0.99+0.10+11.24%
    NC9.SI
    0.194+0.019+10.86%
    B69.SI
    0.22+0.02+10.00%
    5UF.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.089-0.021-19.09%
    5TN.SI
    0.335-0.050-12.99%
    5DS.SI
    0.112-0.015-11.81%
    5NV.SI
    0.123-0.016-11.51%
    P36.SI
    0.138-0.014-9.21%
    K2P.SI