19 Aug 2015
AUD/USD rebounds from 1-week lows after Fed minutes
FXStreet (Córdoba) - A weak US dollar pushed AUD/USD to the upside following the release of the Fed minutes. The pair was trading at 2-week lows, near 0.7310 and jumped; it peaked at 0.7374, reaching a fresh daily high and currently it trades at 0.7350/55, up 20 pips from yesterday’s closing price.
Despite rising on Wednesday and the general decline of the US dollar across the board, the short term outlook still looks bearish but a consolidation on top of 0.7370 could change the trend. Above the next important resistance is located at 0.7400. On the opposite direction, the key support is the area above 0.7300.
USD drops after messy minutes
Greenback erased gains in the currency market after the minutes of the latest FOMC meeting showed that the central bank is moving closer to a rate hike but a September hike is not imminent. Fed funds futures show now a 40% change of a liftoff in September, down from 50% of last week.
Despite rising on Wednesday and the general decline of the US dollar across the board, the short term outlook still looks bearish but a consolidation on top of 0.7370 could change the trend. Above the next important resistance is located at 0.7400. On the opposite direction, the key support is the area above 0.7300.
USD drops after messy minutes
Greenback erased gains in the currency market after the minutes of the latest FOMC meeting showed that the central bank is moving closer to a rate hike but a September hike is not imminent. Fed funds futures show now a 40% change of a liftoff in September, down from 50% of last week.