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May 01 - 01:55 AM

AUD/USD - Consolidates Near Lows Ahead Of FOMC

By John Noonan  —  Apr 30 - 11:55 PM
  • AUD/USD opened -1.43% at 0.6472 after hot US ECI sent US yields higher nL1N3H32MN

  • AUD/USD consolidated in a 0.6465/80 range as much of Asia was on holiday

  • AUD/USD is under pressure after closing below the 10-day MA at 0.6483

  • Next support is at the 61.8 of the April rise at 0.6448

  • A break below 0.6445 targets the April trend low at 0.6362

  • Resistance is at the 10-day MA at 0.6483 and 21-day MA at 0.6504

  • Market is positioned for a hawkish hold when the Fed decides later today

  • Key for AUD/USD will be bond and equity market reaction to Fed event

  • For more click on FXBUZ

Source:
Refinitiv IFR Research/Market Commentary

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