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Jul 27 - 07:55 PM

AUD/USD - Opens Higher After Powell Hints At Slowing Tightening Pace

By John Noonan  —  Jul 27 - 05:55 PM
  • AUD/USD opens +0.82% after Fed hiked 75 BPs as expected, but slightly less hawkish nL1N2Z82TZ

  • Solid gains in commodities and strong rise on Wall Street underpinned AUD nL1N2Z80OOnL1N2Z83AR

  • AUD/USD had a bullish outside day & closed above resistance @ 0.6980/85

  • It is trending higher with the 5, 10 & 21-day MAs in a bullish formation

  • Next target is 0.7053/56 where a double fibo retracement converge

  • The 38.2 of 0.7661/0.6682 is 0.7056 and the 61.8 of 0.7282/0.6682 is 0.7053

  • Support is at the 55-day MA at 0.6973 and 10-day MA at 0.6913

  • AUD/USD upward momentum suggests more gains in immediate

  • For more click on FXBUZ










Source:
Refinitiv IFR Research/Market Commentary

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