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
    1.3696+0.0006+0.04%
    USDSGD=X
    1.5027-0.0003-0.02%
    EURSGD=X
    2.1372+0.0014+0.07%
    GBPSGD=X
    90.6608+0.0906+0.10%
    SGDJPY=X
    5.6589-0.0031-0.05%
    SGDHKD=X
    2.7844-0.0014-0.05%
    SGDMYR=X
    9,836.4580-17.0928-0.17%
    SGDIDR=X
    4.5313-0.0033-0.07%
    SGDCNY=X
    1.0023+0.0042+0.43%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,093.30+0.70+0.06%
    GCQ15.CMX
    14.77+0.03+0.22%
    SIU15.CMX
    48.37+0.90+1.91%
    ^XAU
    2.410.00+0.12%
    HGU15.CMX
    48.88+0.09+0.18%
    CLU15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.61+0.02
    ^FVX
    2.28+0.03
    ^TNX
    2.99+0.03
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.140.00+2.94%
    5DN.SI
    2.50+0.02+0.81%
    MC0.SI
    0.895+0.015+1.70%
    5ME.SI
    4.16-0.11-2.58%
    Z74.SI
    0.320.00-1.54%
    E5H.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.30+0.03+11.11%
    CZ4.SI
    0.47+0.03+8.05%
    5I3.SI
    0.28+0.02+7.69%
    S71.SI
    0.47+0.03+8.05%
    MS7.SI
    0.51+0.02+5.15%
    E02.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.415-0.040-8.79%
    BN2.SI
    0.58-0.05-7.94%
    UD3.SI
    0.21-0.02-6.67%
    S9B.SI
    0.107-0.007-6.14%
    CT1.SI
    5.05-0.30-5.61%
    B61.SI