- 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.
Forex Correlations SummaryView forex correlations to the S&P 500, S&P 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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- Basic Materials Industry
- Australian Dollar
- Gold prices