29 Jan 2014
AUD/USD erases intraday gains
FXstreet.com (Córdoba) - The AUD/USD failed to sustain gains above 0.8800 and pulled back during the European session as investors gear up for the main event of the week, the Fed decision.
The AUD/USD rose to a 6-day high of 0.8823 during the Asian session, underpinned by easing fears in emerging markets, although it came under pressure and turned intraday negative afterwards. At time of writing, the AUD/USD is trading at the 0.8770 zone, a few pips below its opening price, having hit a low of 0.8749 in recent dealings. All eyes are now on Fed meeting that concludes today.
AUD/USD technical perspective
"Australian Dollar completed its correction. We think, today price may start new descending structure towards target at level of 0.8400", said Igor Sayadov, analyst at RoboForex.
The AUD/USD rose to a 6-day high of 0.8823 during the Asian session, underpinned by easing fears in emerging markets, although it came under pressure and turned intraday negative afterwards. At time of writing, the AUD/USD is trading at the 0.8770 zone, a few pips below its opening price, having hit a low of 0.8749 in recent dealings. All eyes are now on Fed meeting that concludes today.
AUD/USD technical perspective
"Australian Dollar completed its correction. We think, today price may start new descending structure towards target at level of 0.8400", said Igor Sayadov, analyst at RoboForex.