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Mar 19 - 07:55 PM

AUD/USD - Opens Lower But Support Holds Ahead Of FOMC

By John Noonan  —  Mar 19 - 06:10 PM
  • AUD/USD opens -0.41% at 0.6531 after falling s low as 0.6504 after RBA nL3N3FW4CH

  • RBA shifted from hawkish to neutral to pave way for cuts later in the year

  • AUD/USD managed to hold above trend-line at 0.6502 before bouncing

  • Wall Street rally ahead of Fed decision helped underpin AUD at lows nL2N3FX2X3

  • Talk of option related buying ahead of 0.6500 also providing support

  • Resistance is at 0.6557 where the 21 and 200-day MAs converge

  • More resistance is at the 10-day MA at 0.6585

  • Action may be light head of Fed and due to a Japan holiday today

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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