18 Feb 2015
AUD/USD at daily lows ahead of FOMC minutes
FXStreet (Córdoba) - AUD/USD extended losses during the New York session and scored fresh daily lows amid cautious sentiment as investors await the FOMC latest meeting minutes.
AUD/USD lost more than half a cent and hit a low of 0.7773 before the 200-hour SMA offered support. However, with the subsequent bounce being capped by the 0.7800 level, the pair was confined to a phase of consolidation ahead of the Federal Reserve minutes. At time of writing, the aussie is trading at 0.7780, recording a 0.46% loss on the day.
AUD/USD downside risks predominate as the Fed is expected to hold a hawkish stance, in contrast with the RBA, which cut rates last month and is expected to remain on the dovish side in the months ahead.
AUD/USD lost more than half a cent and hit a low of 0.7773 before the 200-hour SMA offered support. However, with the subsequent bounce being capped by the 0.7800 level, the pair was confined to a phase of consolidation ahead of the Federal Reserve minutes. At time of writing, the aussie is trading at 0.7780, recording a 0.46% loss on the day.
AUD/USD downside risks predominate as the Fed is expected to hold a hawkish stance, in contrast with the RBA, which cut rates last month and is expected to remain on the dovish side in the months ahead.