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

To receive the Speculative Sentiment Index and other reports from this author via e-mail, sign up for his distribution list via this link.

New to FX markets? Learn more in our video trading guide.

Contact David via

Twitter at https://www.twitter.com/DRodriguezFX

Facebook at http://www.Facebook.com/DRodriguezFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
Learn forex trading with a free practice account and trading charts from FXCM.

--

Did you know that you can get stories like this on the Yahoo mail app?
Download it here.
Loading...
 
Recent Quotes
Symbol Price Change % Chg 
Your most recently viewed tickers will automatically show up here if you type a ticker in the "Enter symbol/company" at the bottom of this module.
You need to enable your browser cookies to view your most recent quotes.
 
Sign-in to view quotes in your portfolios.

Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3551-0.0011-0.08%
    USDSGD=X
    1.4948+0.0135+0.91%
    EURSGD=X
    2.0643+0.0032+0.16%
    GBPSGD=X
    92.0416+0.0345+0.04%
    SGDJPY=X
    5.7235+0.0052+0.09%
    SGDHKD=X
    2.7282+0.0076+0.28%
    SGDMYR=X
    9,746.5107+3.8389+0.04%
    SGDIDR=X
    4.5740+0.0005+0.01%
    SGDCNY=X
    1.0432+0.0115+1.11%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,190.10+1.40+0.12%
    GCQ15.CMX
    16.69+0.01+0.06%
    SIN15.CMX
    69.29-0.41-0.59%
    ^XAU
    2.73+0.01+0.29%
    HGN15.CMX
    60.99+0.79+1.31%
    CLN15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.56+0.09
    ^FVX
    2.19+0.10
    ^TNX
    2.95+0.10
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.745-0.050-6.29%
    N21.SI
    3.98-0.15-3.63%
    Z74.SI
    0.290.000.00%
    5WA.SI
    0.43+0.01+2.38%
    E5H.SI
    0.2050.0000.00%
    5GB.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.35+0.12+55.56%
    AWJ.SI
    0.19+0.05+36.69%
    40R.SI
    0.25+0.06+30.21%
    41H.SI
    0.89+0.19+27.14%
    ATL.SI
    0.32+0.05+18.52%
    MR8.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.16-0.03-15.34%
    5PI.SI
    0.19-0.03-13.64%
    F86.SI
    0.104-0.016-13.33%
    E6R.SI
    0.34-0.05-12.82%
    5DN.SI
    0.28-0.04-12.50%
    554.SI