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
    1.3558+0.0033+0.24%
    USDSGD=X
    1.5595+0.0042+0.27%
    EURSGD=X
    1.9665+0.0006+0.03%
    GBPSGD=X
    78.6333-0.532-0.67%
    SGDJPY=X
    5.7240-0.0152-0.27%
    SGDHKD=X
    2.9593+0.0115+0.39%
    SGDMYR=X
    9,811.1885+1.9385+0.02%
    SGDIDR=X
    4.7965-0.0033-0.07%
    SGDCNY=X
    1.0148+0.0025+0.25%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,279.10-12.70-0.98%
    GCM16.CMX
    17.27-0.23-1.31%
    SIN16.CMX
    87.23-3.50-3.86%
    ^XAU
    2.20-0.02-1.04%
    HGN16.CMX
    43.86+0.21+0.48%
    CLM16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.26-0.06
    ^FVX
    1.80-0.07
    ^TNX
    2.66-0.06
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.425-0.005-1.16%
    N21.SI
    0.785-0.020-2.48%
    G13.SI
    3.76-0.07-1.83%
    Z74.SI
    0.385-0.005-1.28%
    E5H.SI
    0.730.000.00%
    Y92.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.48+0.08+20.00%
    BFK.SI
    0.194+0.019+10.86%
    D79.SI
    0.28+0.03+9.80%
    BHO.SI
    0.185+0.015+8.82%
    AYL.SI
    0.50+0.04+8.70%
    BQP.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.088-0.082-48.24%
    P74.SI
    0.30-0.09-23.08%
    Y06.SI
    0.125-0.027-17.76%
    5MQ.SI
    0.21-0.05-17.65%
    Y35.SI
    0.31-0.04-11.43%
    AWK.SI