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AUD/USD: 0.72 handle lost before Tokyo open

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 17, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Guatemala) - AUD/USDstrong>> was maintaining its territory post FOMC and at the Fed hike in the US session on the 0.72 handle.

    It is now coming under some pressure as Asia gets going. It was a little volatile, with first the Aussie and Gold coming under pressure with a rise in the USD index and the greenback relieved on the initial outcome. However, as the statement was digested and Yellen's presser announcing a data dependent stance and gradual approach to interest rate rises took hold, the Aussie took flight to 0.7280 before the volatility claimed and the dollar managed to take back control on Central Bank divergences. However, we may not see any further action yet from the Fed until Q2, according to analysts at ANZ, allowing for some room to the upside in the Aussie should anything positive were to occur domestically.

    AUD/USD levels

    Technically, AUD/USD is under pressure again, testing the 4hr 200 SMA at 0.71972 and the 55 DMA at 0.7185. The 100 SMA on the 4hr at time of writing at 0.7185 could also be pressured and a break below it could open the downside with S1 at 0.7117 exposed guarding the 3 month uptrend at 0.7081. Volatility is to be expected in holiday season now that desks wil start to wrap up for the year at the start of next week.
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