OctaFX | OctaFX Forex Broker
Open trading account

AUD/USD higher above 0.9750 on USD weakness

FXstreet.com (Barcelona) - AUD/USD is last near session highs at 0.9771 on the back of broad USD weakness, following a massive sell-off in USD/JPY at the start of the week in Asia-Pacific, on comments from Japan Fin Min Amari.

The pair is now finding some resistance around Friday's London session highs, ahead of a European morning session with mostly all local markets closed for holiday. According to Westap, as Senior Economics Reporter Dow Jones and Wall Street Journal JamesGlynn reports: “If Bernanke affirms QE status quo AUD will lift toward 0.9900,” the analyst says, while “if Bernanke signals an early end AUD will decline below 0.9500,” the bank said.

Immediate resistance to the upside for AUD/USD shows at recent session highs 0.9776, follwoed by Thursday's lows at 0.9797, while closest support to the downside lies at recent session lows 0.9735, followed by Friday's fresh 11-month lows at 0.9710.

Flash: The biggest risk to the dollar comes from Fed - BBH

The US Dollar Index finished at its highest level since late July 2012, benefiting from increased speculation the Fed may begin tapering asset purchases as economic data out of the US continues to slowly improve and concerns over growth in Europe are brought back to the forefront.
Read more Previous

Sterling bulls continue to defend the 1.5150 level

The Sterling suffered steep losses to end last week, closing down 103 pips to finish at 1.5169.
Read more Next
Start livechat