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Is Aussie Rally For Real?

ByDailyfx
Published 03/25/2014, 12:54 PM
Australian Dollar US Dollar
-0.02%
DX
0.11%
GC
0.60%
ESU25
-0.39%
CL
-0.20%
VIX
0.95%
  • AUD/USD 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 Index. But key FX correlations suggest it will run out of steam.

Forex Correlations Summary (to the S&P 500, S&P Volatility Index (VIX), Crude Oil Futures prices, US Treasury Yields and Spot Gold prices.)

FX Correlations

Data source: Bloomberg. Chart source.

--- Written by David Rodriguez, Quantitative Strategist for DailyFX.com.

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