30 Oct 2013
AUD/USD hits 2-week low and bounces
FXstreet.com (Córdoba) - The AUD/USD broke to fresh 2-week lows as the greenback soared after the Fed decided to keep its policy unchanged but sounded less dovish than expected.
The Federal Reserve said activity has continued to expand at a "moderate pace" but the bank plans to await more evidence that progress will be sustained before adjusting the pace of is purchases. AUD/USD fell to a low of 0.9440 as knee-jerk reaction but managed to quickly bounce. At time of writing, AUD/USD is trading at the 0.9470 area, virtually unchanged since opening.
AUD/USD levels to watch
In terms of technical levels, immediate supports for AUD/USD are seen at 0.9440 (daily low) and 0.9423 (Oct 14 low), while resistances could be found at 0.9515 (daily high),0.9525 (21-day SMA) and 0.9560 (100-hour SMA).
The Federal Reserve said activity has continued to expand at a "moderate pace" but the bank plans to await more evidence that progress will be sustained before adjusting the pace of is purchases. AUD/USD fell to a low of 0.9440 as knee-jerk reaction but managed to quickly bounce. At time of writing, AUD/USD is trading at the 0.9470 area, virtually unchanged since opening.
AUD/USD levels to watch
In terms of technical levels, immediate supports for AUD/USD are seen at 0.9440 (daily low) and 0.9423 (Oct 14 low), while resistances could be found at 0.9515 (daily high),0.9525 (21-day SMA) and 0.9560 (100-hour SMA).