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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Market Data

  • Currencies
    Currencies
    NamePriceChange% Chg
    1.2525+0.0002+0.01%
    USDSGD=X
    1.7297-0.0005-0.03%
    EURSGD=X
    2.1045+0.0004+0.02%
    GBPSGD=X
    81.8770+0.0947+0.12%
    SGDJPY=X
    6.1905-0.0015-0.02%
    SGDHKD=X
    2.5951+0.0096+0.37%
    SGDMYR=X
    9,117.4014-1.4609-0.02%
    SGDIDR=X
    4.9706+0.00020.00%
    SGDCNY=X
    1.1704+0.0016+0.14%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,285.40-8.50-0.66%
    GCM14.CMX
    19.35-0.25-1.26%
    SIK14.CMX
    89.10-1.07-1.19%
    ^XAU
    3.04-0.01-0.16%
    HGK14.CMX
    103.75+0.38+0.37%
    CLM14.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.71-0.02
    ^FVX
    2.70-0.02
    ^TNX
    3.49-0.03
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    0.113-0.002-1.74%
    B22.SI
    0.135+0.010+8.00%
    545.SI
    2.190.0000.00%
    JS8.SI
    0.605-0.005-0.82%
    E5H.SI
    0.143+0.004+2.88%
    5GB.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.255+0.040+18.60%
    5UE.SI
    0.345+0.045+15.00%
    5DS.SI
    0.18+0.020+12.50%
    T16.SI
    0.19+0.016+9.20%
    540.SI
    0.138+0.011+8.66%
    J74.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.17-0.030-15.00%
    5WD.SI
    0.118-0.014-10.61%
    S71.SI
    0.123-0.013-9.56%
    5FI.SI
    0.20-0.020-9.09%
    D6U.SI
    0.29-0.025-7.94%
    O08.SI