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
    1.3693-0.0018-0.13%
    USDSGD=X
    1.5001-0.0124-0.82%
    EURSGD=X
    2.0789-0.0123-0.59%
    GBPSGD=X
    87.6379+0.0372+0.04%
    SGDJPY=X
    5.6659+0.0094+0.17%
    SGDHKD=X
    2.6592-0.0047-0.18%
    SGDMYR=X
    9,426.3721-77.666-0.82%
    SGDIDR=X
    4.5732+0.0022+0.05%
    SGDCNY=X
    1.0711+0.0042+0.39%
    AUDSGD=X
  • Commodities
    Commodities
    NamePriceChange% Chg
    1,195.20-1.00-0.08%
    GCJ15.CMX
    16.06-0.10-0.64%
    SIK15.CMX
    72.53-0.16-0.22%
    ^XAU
    2.64-0.01-0.45%
    HGK15.CMX
    50.95+0.19+0.37%
    CLJ15.NYM
  • Bonds
    Bonds
    TreasuryYield (%)Yield Change
    1.57-0.03
    ^FVX
    2.11-0.01
    ^TNX
    2.720.00
    ^TYX

MARKET MOVERS

  • Most Actives
    Most Actives
    NamePriceChange% Chg
    100.007-0.008-0.01%
    41H.SI
    1.055+0.050+4.98%
    N21.SI
    1.237+0.007+0.57%
    41I.SI
    0.925-0.025-2.63%
    G13.SI
    0.280.000.00%
    5WA.SI
  • % Gainers
    % Gainers
    NamePriceChange% Chg
    0.147+0.041+38.68%
    40E.SI
    0.119+0.014+13.33%
    5CH.SI
    0.194+0.019+10.86%
    5OQ.SI
    0.59+0.05+9.26%
    L5I.SI
    0.25+0.02+8.70%
    41C.SI
  • % Losers
    % Losers
    NamePriceChange% Chg
    0.185-0.040-17.78%
    MR8.SI
    0.26-0.05-14.75%
    T4B.SI
    0.13-0.02-12.75%
    5TW.SI
    0.12-0.02-11.11%
    P07.SI
    0.325-0.030-8.45%
    D03.SI