FOREX ANALYSIS: Australian Dollar Targets November Highs

ssi_usd-cad_body_Picture_1.png, FOREX ANALYSIS: Australian Dollar Targets November Highs

AUDUSD – An aggressive build in forex trading crowd selling of the Australian Dollar versus the US Dollar (ticker: USDOLLAR) warns that the AUDUSD may in fact continue higher. We most often use our Speculative Sentiment Index as a contrarian indicator to price action; if most are selling, we prefer to buy.

It will be critical to watch whether the AUDUSD is able to trade above November highs of $1.0490. As it stands we will need to see an important shift in crowd sentiment before advocating selling the Australian Dollar against its US namesake.

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com

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DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.
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Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.3580-0.0031-0.23%
    USDSGD=X
    1.4922-0.0041-0.27%
    EURSGD=X
    1.7811-0.0064-0.36%
    GBPSGD=X
    77.0950-0.592-0.76%
    SGDJPY=X
    5.7095+0.0145+0.25%
    SGDHKD=X
    2.9899-0.0092-0.31%
    SGDMYR=X
    9,694.5020+44.8848+0.47%
    SGDIDR=X
    4.9090+0.0034+0.07%
    SGDCNY=X
    1.0197+0.0028+0.28%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,320.20+0.70+0.05%
    GCQ16.CMX
    19.68+0.04+0.19%
    SIU16.CMX
    103.00+3.11+3.11%
    ^XAU
    2.22+0.01+0.27%
    HGU16.CMX
    42.64-0.49-1.14%
    CLU16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.140.00
    ^FVX
    1.56-0.01
    ^TNX
    2.28-0.01
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.165-0.003-1.79%
    N21.SI
    0.495+0.055+12.50%
    5TP.SI
    1.035+0.030+2.99%
    Y92.SI
    0.365+0.005+1.39%
    E5H.SI
    0.775-0.025-3.13%
    G13.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.235+0.030+14.63%
    BOU.SI
    0.29+0.03+13.73%
    S71.SI
    0.445+0.050+12.66%
    BHU.SI
    0.495+0.055+12.50%
    5TP.SI
    0.24+0.02+11.63%
    S46.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.161-0.089-35.60%
    BFT.SI
    0.19-0.03-13.64%
    BDN.SI
    0.16-0.02-9.60%
    O08.SI
    0.20-0.02-9.09%
    BLZ.SI
    0.106-0.010-8.62%
    BEH.SI