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AUD/USD breaks below 0.7100 as Fed leaves door open for a liftoff in December

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 28, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Córdoba) - AUD/USD lost more than 80 pips after the Federal Reserve decided to leave rates unchanged and mentioned that it was going to determine at the next meeting if it is appropriate to raise rates.

    The US dollar jumped in the currency market after the statement left the door open for a liftoff before year end. The aussie extend losses against greenback but managed to climb further versus the kiwi.

    AUD/USD extends losses

    The pair lost gourd during the Asian session after CPI data from Australia but it found support above 0.7100. Then it attempted to recover and before the FOMC decision even reached levels on top of 0.7150.

    Shortly after the announcement it dropped to 0.7079, reaching the lowest level in three weeks. It was trading at 0.7090/95, 125 pips below yesterday’s closing price, holding a bearish tone.
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