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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 Recovers Early Losses as T-Note Yields Jump

The dollar index (DXY00) Tuesday rose slightly by +0.02%.  The dollar Tuesday recovered from a 1-1/2 week low and posted modest gains after a jump in T-note yields sparked short covering in the dollar.  The dollar also found support after the Conference Board US May consumer confidence index unexpectedly rose and after Minneapolis Fed President Kashkari said the Fed should take its time before cutting interest rates.   

The Conference Board US May consumer confidence index unexpectedly rose +4.5 to 102.0, stronger than expectations of a decline to 96.0.

The US Mar S&P CoreLogic composite-20 home price index rose +7.38% y/y, stronger than expectations of +7.30% y/y and the biggest increase in 17 months.

The US May Dallas Fed manufacturing outlook survey unexpectedly fell 4.9 to -19.4, weaker than expectations of an increase to -12.1.

Minneapolis Fed President Kashkari said the US economy has remained "remarkably resilient," and the Fed should take its time to... Read more

Commitment of Traders Positions as of May 21, 2024

View Chart Details
Commercials - Long / Short
115,463 (-16,133)
63,870 (+9,416)
Non-Commercials - Long / Short
50,536 (+10,477)
106,769 (-10,461)
Dealers / Intermediary - Long / Short
84,401 (-21,631)
12,348 (+2,548)
Asset / Manager - Long / Short
49,537 (+6,952)
113,706 (-1,858)
Leveraged Funds - Long / Short
18,846 (+7,553)
38,355 (-3,101)
Other Reportables - Long / Short
7,735 (+104)
750 (unch)

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
+0.00643 (+0.98%)
since 04/29/24
3-Month
0.63624 +4.21%
on 04/19/24
0.67141 -1.25%
on 05/16/24
+0.01326 (+2.04%)
since 02/29/24
52-Week
0.62705 +5.74%
on 10/26/23
0.68996 -3.90%
on 06/16/23
+0.00905 (+1.38%)
since 05/29/23

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^USDJPY : 157.274 (+0.06%)
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^GBPCAD : 1.74246 (+0.06%)
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^EURUSD : 1.08381 (-0.17%)

Barchart Technical Opinion

The Barchart Technical Opinion rating is a 56% 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 0.67089
2nd Resistance Point 0.66943
1st Resistance Point 0.66719
Last Price 0.66303
1st Support Level 0.66349
2nd Support Level 0.66203
3rd Support Level 0.65979

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52-Week High 0.68996
Fibonacci 61.8% 0.66593
Last Price 0.66303
Fibonacci 50% 0.65850
Fibonacci 38.2% 0.65108
52-Week Low 0.62705

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