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
    1.3701-0.0009-0.07%
    USDSGD=X
    1.5025-0.0101-0.67%
    EURSGD=X
    2.0787-0.0125-0.60%
    GBPSGD=X
    87.6327+0.032+0.04%
    SGDJPY=X
    5.6623+0.0057+0.10%
    SGDHKD=X
    2.6631-0.0008-0.03%
    SGDMYR=X
    9,456.2705-47.7676-0.50%
    SGDIDR=X
    4.5714+0.0003+0.01%
    SGDCNY=X
    1.0690+0.002+0.19%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,195.60-0.60-0.05%
    GCJ15.CMX
    16.02-0.14-0.85%
    SIK15.CMX
    72.53-0.16-0.22%
    ^XAU
    2.64-0.01-0.57%
    HGK15.CMX
    50.95+0.19+0.37%
    CLJ15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.57-0.03
    ^FVX
    2.11-0.01
    ^TNX
    2.720.00
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    100.007-0.008-0.01%
    41H.SI
    1.055+0.050+4.98%
    N21.SI
    0.925-0.025-2.63%
    G13.SI
    0.280.000.00%
    5WA.SI
    4.18+0.07+1.70%
    Z74.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.147+0.041+38.68%
    40E.SI
    0.119+0.014+13.33%
    5CH.SI
    0.194+0.019+10.86%
    5OQ.SI
    0.59+0.05+9.26%
    L5I.SI
    0.25+0.02+8.70%
    41C.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.185-0.040-17.78%
    MR8.SI
    0.26-0.05-14.75%
    T4B.SI
    0.13-0.02-12.75%
    5TW.SI
    0.12-0.02-11.11%
    P07.SI
    0.325-0.030-8.45%
    D03.SI