21 Aug 2013
AUD/USD is trading lower on subdued risk appetite
FXstreet.com (Athens) - Subdued risk appetite hurt higher-yielding currencies, so the ‘Aussie’ is trading downwards, now at 0.9034
AUD/USD will pave its way after FOMC minutes
Subdued risk appetite hurt higher-yielding, growth-linked currencies. Therefore, the ‘Aussie’ fell 0.7 percent to 0.8998 overnight, as pre-FOMC volatility has already picked up - and its hurting all the assets linked to higher-risk. On the other hand, doubt about whether today’s FOMC minutes will give more of a clue about tapering next months from the Fed led to a bout of dollar weakness yesterday and so traders will be looking to see if there’s a degree of “sell the rumor, buy the fact” leading to a dollar bounce later today. All eyes will therefore be on the dollar today and especially later when the minutes are released.
Technical outlook on AUD/USD
The ‘Aussie’ is now trading at 0.9030, after having hit a daily low as of 0.9024 at 7:00 GMT hours. The FXstreet.com Trend Index shows the pair to be slightly bullish. Daily pivot point support can be found at 0.9008, 0.8994, 0.8972, and resistance at 0.9215, 0.9228 0.9257, respectively.
AUD/USD will pave its way after FOMC minutes
Subdued risk appetite hurt higher-yielding, growth-linked currencies. Therefore, the ‘Aussie’ fell 0.7 percent to 0.8998 overnight, as pre-FOMC volatility has already picked up - and its hurting all the assets linked to higher-risk. On the other hand, doubt about whether today’s FOMC minutes will give more of a clue about tapering next months from the Fed led to a bout of dollar weakness yesterday and so traders will be looking to see if there’s a degree of “sell the rumor, buy the fact” leading to a dollar bounce later today. All eyes will therefore be on the dollar today and especially later when the minutes are released.
Technical outlook on AUD/USD
The ‘Aussie’ is now trading at 0.9030, after having hit a daily low as of 0.9024 at 7:00 GMT hours. The FXstreet.com Trend Index shows the pair to be slightly bullish. Daily pivot point support can be found at 0.9008, 0.8994, 0.8972, and resistance at 0.9215, 0.9228 0.9257, respectively.