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AUD/USD again capped by 0.7280

FXStreet (Córdoba) - AUD/USD is retreating after the rally from below 0.7200 was again capped by the 0.7280 zone. Greenback gained momentum after Wall Street opening bell and trimmed losses in the market.

AUD/USD hits 3-week highs and…

Yesterday the pair soared after the Fed’s decision and Yellen’s press conference to 0.7275 but then pulled back to 0.7165 from where it started to rise again. Once back above 0.7200 accelerated to the upside and peaked three hours ago at 0.7280, the strongest level since August 21.

Afterwards it pulled back and it was trading at 0.7230. The decline from the highs found support at 0.7215, where the hourly 20-SMA is located.

Price action is dominated by the behavior of the US dollar as investors analyze the outcome of yesterday’s events. The decline in equity prices in Europe and in the US did not affect commodity currencies that usually decline when risk aversion appears.

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