OctaFX | OctaFX Forex Broker
Open trading account
Back

AUD/USD licking it;s wounds sub 0.90 handle

FXStreet (Guatemala) - AUD/USD is trading at 0.8958, down -0.03% on the day, having posted a daily high at 0.8963 and low at 0.8953.

AUD/USD was hit hard on the FOMC, with a mixed feeling around the outcome amongst the market, and has been changing hands through 0.9000 after key 0.9020 was taken out with ease. The Fed decision was to keep rates on hold and to reduce their asset purchasing programme to $10B from $15B. Yellen has explained that inflation has firmed some since the start of the year and she sees it moving towards their target of 2%.The bearish tone is in full flow in the short term, with indicators heading south in oversold levels and 20 SMA gaining bearish slope well above current price as noted by chief analysts at FXStreet, Valeria Bednarik..“In the 4 hours chart price accelerated below its 20 SMA that presents now a bearish slope, while indicators turned south with momentum ready to cross 100. Next support stands at the 0.8950/60 price zone, with a break below signaling a probable downward continuation towards 0.8880 price zone”.

AUD/USD support and resistance

Support levels: 0.8955 0.8920 0.8880

Resistance levels: 0.8990 0.8940 0.8985

Fed confirms process of normalizing policy, USD trend here to stay - Nomura

Nomura notes that Wednesday's FOMC outcome confirms the notion that the Fed is in the process of normalizing policy, which should translate in the USD trend being sustainable.
Read more Previous

It was a hawkish dot plot from the FOMC- Rabobank

Analysts at Rabobank exclaimed that today’s hawkish signal came from the dot plot, not from the statement.
Read more Next
Start livechat