AUD Futures: Open Interest activity signals more gains ahead

The preliminary for June 14th published by the CME shows, a 100-pip rally in the AUD/USD spot from 0.7726 to 0.7834 was accompanied by fresh buying interest in the AUD futures. 

The Open Interest (OI) in AUD futures rose by 5134 contracts on Friday. This was the fourth straight day of additions to OI. The total OI was 96,680 on Monday, while as of now the total OI stands at 113,744. 

The surge in OI adds credence to the four-day rally in the AUD/USD spot (from 0.76 to 0.7835). It also indicates that the bulls have enough strength to cut through 0.7831 - 23.6% Fib R of 2011 high - 2016 low).

 

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.