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
    1.3447+0.0002+0.02%
    USDSGD=X
    1.4518-0.0022-0.15%
    EURSGD=X
    2.0105-0.0014-0.07%
    GBPSGD=X
    88.4450-0.0452-0.05%
    SGDJPY=X
    5.7642-0.0006-0.01%
    SGDHKD=X
    2.7012-0.0005-0.02%
    SGDMYR=X
    9,543.8730-1.6934-0.02%
    SGDIDR=X
    4.6075-0.0008-0.02%
    SGDCNY=X
    1.0495+0.0002+0.02%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,204.10+5.80+0.48%
    GCQ15.CMX
    16.23-0.06-0.36%
    SIK15.CMX
    70.95+0.05+0.07%
    ^XAU
    2.77+0.01+0.22%
    HGK15.CMX
    57.32-0.38-0.65%
    CLM15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.290.00
    ^FVX
    1.85-0.03
    ^TNX
    2.50-0.05
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.2350.0000.00%
    5GB.SI
    0.290.000.00%
    5WA.SI
    0.199+0.001+0.51%
    5OU.SI
    0.205+0.024+13.26%
    B0Z.SI
    0.885+0.010+1.14%
    N21.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.205+0.024+13.26%
    B0Z.SI
    0.117+0.013+12.50%
    41S.SI
    0.78+0.08+11.43%
    AUE.SI
    0.49+0.05+11.36%
    UV1.SI
    0.199+0.018+9.94%
    K22.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.141-0.023-14.02%
    5RC.SI
    0.186-0.029-13.49%
    5TS.SI
    0.139-0.016-10.32%
    5MD.SI
    0.235-0.025-9.62%
    ACW.SI
    0.105-0.010-8.70%
    J8O.SI