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USD Trading Outlook (20-05-2013)

The AUD remains under extreme pressure and latest positioning data from the IMM futures market shows that the market flipped from being around 7,000 contracts long to being over 13,000 contracts short. USD strength continues to build and the USD index broke an important technical resistance point, showing that the move lower in AUD/USD is as much about USD strength as it is about AUD weakness.

There are no major data releases today so we can expect another fairly quiet session.

Back to USD Trading Outlook Archive

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