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Sep 21 - 07:55 PM

AUD/USD - Opens Lower After Fed Managed To Be More Hawkish Than Expected

By John Noonan  —  Sep 21 - 06:25 PM
  • AUD/USD opens -0.85% and below 0.6650 after USD soared on hawkish Fed hike nL1N30S24H

  • Market was expecting Fed to be hawkish, but they managed to outdo themselves

  • Fed dot-plot forecasting 4.4% end of 2022 and peaking at 4.6% in 2023 spooked investors nL1N30R1F1

  • Wall Street ended a choppy session considerably lower to add weight on AUD nL1N30S2U8

  • US Treasury market predicting slowdown as 2's/10's curve inverts further nL1N30S2RU

  • AUD/USD closed below support at 0.6670 and hit fresh 2-year low at 0.6622

  • There isn't support of note until 61.8 of pandemic low/high at 0.6463

  • AUD/USD resistance at former support at 0.6670/80 and 10-day MA at 0.6732

  • Fundamentals and technicals suggest more downside in short-term

  • For more click on FXBUZ









Source:
Refinitiv IFR Research/Market Commentary

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