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Australian Dollar/U.S. Dollar (^AUDUSD)

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Australian Dollar/U.S. Dollar Futures Market News and Commentary

Dollar Posts a 1-Week High and Gold Falls on Hawkish FOMC Minutes

The dollar index (DXY00) Wednesday rose by +0.28% and posted a 1-week high. Higher T-note yields Wednesday supported moderate gains in the dollar.  Also, the weakness in stocks on Wednesday boosted some liquidity demand for the dollar.  The dollar extended its gains Wednesday afternoon on the hawkish minutes of the Apr 30-May 1 FOMC meeting.

A negative factor for the dollar Wednesday was the unexpected decline in US Apr existing home sales. Also, Wednesday’s rally in the British pound (^GBPUSD) to a 2-month high was negative for the dollar.

US Apr existing home sales unexpectedly fell -1.9% m/m to 4.14 million, versus expectations of an increase to 4.23 million.

The minutes of the Apr 30-May 1 FOMC meeting stated, "Participants noted disappointing readings on inflation over the first quarter" and discussed "holding interest rates steady for longer.  " The minutes also said "many" questioned whether policy was restrictive enough to bring inflation down to target, wi... Read more

Commitment of Traders Positions as of May 14, 2024

View Chart Details
Commercials - Long / Short
131,596 (-3,427)
54,454 (-8,047)
Non-Commercials - Long / Short
40,059 (-9,421)
117,230 (+3,234)
Dealers / Intermediary - Long / Short
106,032 (-8,827)
9,800 (-1,783)
Asset / Manager - Long / Short
42,585 (-2,731)
115,564 (+446)
Leveraged Funds - Long / Short
11,293 (-361)
41,456 (-3,345)
Other Reportables - Long / Short
7,631 (-48)
750

Price Performance

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Period Period Low Period High Performance
1-Month
0.64656 +2.55%
on 05/01/24
0.67141 -1.25%
on 05/16/24
+0.01434 (+2.21%)
since 04/23/24
3-Month
0.63624 +4.21%
on 04/19/24
0.67141 -1.25%
on 05/16/24
+0.00657 (+1.00%)
since 02/23/24
52-Week
0.62705 +5.74%
on 10/26/23
0.68996 -3.90%
on 06/16/23
+0.00203 (+0.31%)
since 05/23/23

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Elliott Wave Expects $AUDUSD to Break Higher

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^AUDUSD : 0.66267 (+0.11%)
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Barchart Technical Opinion

The Barchart Technical Opinion rating is a 72% Buy with a Weakening short term outlook on maintaining the current direction.

Long term indicators fully support a continuation of the trend.

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Key Turning Points

3rd Resistance Point 0.67441
2nd Resistance Point 0.67146
1st Resistance Point 0.66671
Last Price 0.66265
1st Support Level 0.65901
2nd Support Level 0.65606
3rd Support Level 0.65131

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52-Week High 0.68996
Fibonacci 61.8% 0.66593
Last Price 0.66265
Fibonacci 50% 0.65850
Fibonacci 38.2% 0.65108
52-Week Low 0.62705

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