AUD/USD rises to test last months highs after FOMC minutes

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Oct 8, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Córdoba) - Greenback weakened across the board after the release of the Federal Reserve minutes from the September meeting. AUD/USD rose from 0.7225 to 0.7271, reaching the highest level since mid September.

    The pair currently trades at 0.7250, up 0.58% for the day. Price is trading near last week highs that lie at 0.7280; a break higher would expose 0.7300; above the next resistance could be located at 0.7310 (Aug 6,18 low).

    The FOMC minutes showed that officials wanted to wait for clarity over the outlook before starting the normalization process of monetary policy. FOMC members were worried about low inflation.

    AUD/USD continues with the winning streak

    The aussie is consolidating gains and is about to post the seventh daily gain in a row and the strongest close since August 24. AUD/USD continues to reach higher highs and higher lows and is testing the top of September and the 0.7270/80 area.
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