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18 Mar 2015
AUD/USD: Faded back below 0.78 handle
FXStreet (Guatemala) - AUD/USD is trading at 0.7778 with a high of and a low of 0.7849 post the wave of supply in the American closing session.
AUD/USD, reaching just shy of March highs, is currently trading back below the 0.78 handle after the currency pair gained almost 2 cents and half since trading at the 0.76 psychological support line in the lead in to the FOMC announcements earlier. The bets are being reduced on the idea of a June hike and weighted more towards the end of the year from a less aggressive sounding Fed.
Technically, the pair has spiked up through the recent downtrend (0.7812) and reveals the 0.8034 mark and 7th January low as sighted by technical analysts at Commerzbank, "A close above 0.8035 is needed to alleviate downside pressure."
AUD/USD, reaching just shy of March highs, is currently trading back below the 0.78 handle after the currency pair gained almost 2 cents and half since trading at the 0.76 psychological support line in the lead in to the FOMC announcements earlier. The bets are being reduced on the idea of a June hike and weighted more towards the end of the year from a less aggressive sounding Fed.
Technically, the pair has spiked up through the recent downtrend (0.7812) and reveals the 0.8034 mark and 7th January low as sighted by technical analysts at Commerzbank, "A close above 0.8035 is needed to alleviate downside pressure."