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Mar 16 - 10:55 PM

AUD/USD - Trading With Heavy Tone Ahead Of FOMC

By John Noonan  —  Mar 16 - 10:28 PM
  • AUD/USD opened 0.13% lower at 0.7745 after USD edged up in quiet trading

  • After trading at 0.7747, it slipped lower as risk assets eased slightly

  • The low was 0.7724 and it is trading just above 0.7730 into the afternoon

  • Consolidation will likely continue into the FOMC decision later today

  • Key will be bond market reaction to the Fed statement, dot-plots and Powell

  • If US yields push higher after FOMC, AUD/USD will likely break lower

  • If US yields are steady to lower, AUD/USD will likely enjoy a relief rally

  • AUD/USD buyers ahead of 0.7700 - with break targeting 0.7620/25

  • Resistance is at the 21-day MA at 0.7781 and break targets 0.7835/40

  • For more click on FXBUZ










aud/usd Click here

Source:
Refinitiv IFR Research/Market Commentary

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