– Australian Dollar trades at critical resistance, fails to break higher
– Strong disconnect from Gold prices warns Aussie$ rallies may be at risk
– Sharp shift in retail FX sentiment warns we’re at make-or-break levels
The Australian Dollar trades at critical trendline and moving average resistance versus the US Dollar. But key FX correlations suggest it will run out of steam.
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Forex Correlations SummaryView forex correlations to the SP 500, SP Volatility Index (VIX), Crude Oil Futures prices, US Treasury Yields, and Spot Gold prices.
Data source: Bloomberg. Chart source: R SEE GUIDE ON READING THE ABOVE CHART
— Written by David Rodriguez, Quantitative Strategist for DailyFX.com David specializes in automated trading strategies. Find out more about our automated sentiment-based strategies on DailyFX PLUS.
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