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
    1.3898-0.0018-0.13%
    USDSGD=X
    1.5732+0.0036+0.23%
    EURSGD=X
    2.0113-0.0113-0.56%
    GBPSGD=X
    80.9145-0.6241-0.77%
    SGDJPY=X
    5.6071+0.0064+0.11%
    SGDHKD=X
    2.9741+0.0095+0.32%
    SGDMYR=X
    9,721.9434+60.0547+0.62%
    SGDIDR=X
    4.7312+0.0083+0.17%
    SGDCNY=X
    0.9863-0.0012-0.12%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,247.40+52.80+4.42%
    GCJ16.CMX
    15.80+0.51+3.36%
    SIH16.CMX
    58.76+3.36+6.06%
    ^XAU
    2.01-0.01-0.72%
    HGH16.CMX
    27.04-0.41-1.49%
    CLH16.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.11-0.04
    ^FVX
    1.64-0.06
    ^TNX
    2.50-0.02
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    3.54-0.12-3.28%
    Z74.SI
    0.305-0.020-6.15%
    N21.SI
    1.61-0.02-1.23%
    MC0.SI
    0.66-0.02-3.65%
    G13.SI
    0.36-0.01-4.00%
    E5H.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.23+0.03+17.35%
    AZT.SI
    54.640.000.00%
    NF6.SI
    0.85+0.10+13.33%
    BAI.SI
    0.22+0.03+12.82%
    5WR.SI
    0.88+0.10+12.82%
    S85.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.095-0.040-29.63%
    T19.SI
    0.13-0.05-27.37%
    5PL.SI
    0.215-0.040-15.69%
    5RE.SI
    0.20-0.03-14.89%
    S46.SI
    0.132-0.023-14.84%
    5IF.SI