US dollar strong and AUD/USD meeting S3

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 15, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    FXStreet (Guatemala) - AUD/USD is currently trading at 0.7176 with a high of 0.7283 and a low of 0.7160.

    AUD/USD has succumbed to the pressures ahead of the FOMC tomorrow while the greenback gathers pace. The US CPI's were good enough for lift-off while the RBA minutes gave the Aussie a short-lived boost. There was little in the detail of the minutes that had not already been explained in the recent statement while the Central Bank remains generally happy with how the real side of the economy is evolving.

    AUD/USD levels

    Technically, AUD/USD recovery from current levels this week was short -lived and was unable to penetrate and close through the 1hr 200 SMA at 0.7260 today. The price has dropped away from the cluster of MA's at 0.7220 and is testing a strong level of support established in mid Nov. This is located where the 200 SMA is on the 4hr chart at 0.7189 until 0.7160 (S3).

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