AUD/USD jumps to 0.7550 after FED lowers rate hike expectations

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 16, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The US dollar plummeted across the board and stocks rallied after the Fed left interest rate unchanged. AUD/USD rose from 0.7440 to levels above 0.7550, erasing practically all weekly losses.

    The pair peaked at 0.7560 and it was trading at 0.7550/55, again pointing toward 0.7600, area that was tested at the beginning of the week.

    The aussie is consolidating gains versus the US dollar as Yellen holds its press conference but the currency dropped versus the kiwi and the loonie. In a few hours, on Thursday, during the Asian session the Australian employment report will be released and is likely to impact on the AUD/USD pair.

    AUD/USD levels

    To the upside, resistance levels might be seen at 0.7560 (daily high), 0.7595/0.7600 (Mar 14 high / psychological) and 0.7640 (Jun 17 low). On the opposite direction, support levels could be seen at 0.7525/30 (Mar 9 & 15 high) and 0.7475 (Asian and European session high).
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