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18 Mar 2015
AUD/USD: Bid on a slightly dovish FOMC statement
FXStreet (Guatemala) - AUD/USD is currently trading at 0.7730 with a high of 0.7753 and a low of 0.7589.
AUD/USD is moving back into neutral territory in the charts on the back of the dovishness that came from the FOMC statement, although while a hike remains on the cards for this year depending on the in coming information to meet the Feds 2% inflation rate objective and maximum employment.
Yellen in her press conference that is currently underway, said that although they removed the word patient from the forward guidance, it doesn't mean they are going to be impatient about the timing of a rate hike. "June cannot be ruled out." On the back of a mixed outlook, the US dollar is soft and the Aussie is enjoying that for the moment.
Technically, AUD/USD is looking for closes on the 0.77 handle and should the pair cross into the upper quarter of the handle, this will be confirming a potential falling wedge reversal pattern, as previously discussed and mentioned by Karen Jones, chief analyst at Commerzbank. "But only a close above the downtrend at 0.7777 will confirm the pattern."
AUD/USD is moving back into neutral territory in the charts on the back of the dovishness that came from the FOMC statement, although while a hike remains on the cards for this year depending on the in coming information to meet the Feds 2% inflation rate objective and maximum employment.
Yellen in her press conference that is currently underway, said that although they removed the word patient from the forward guidance, it doesn't mean they are going to be impatient about the timing of a rate hike. "June cannot be ruled out." On the back of a mixed outlook, the US dollar is soft and the Aussie is enjoying that for the moment.
Technically, AUD/USD is looking for closes on the 0.77 handle and should the pair cross into the upper quarter of the handle, this will be confirming a potential falling wedge reversal pattern, as previously discussed and mentioned by Karen Jones, chief analyst at Commerzbank. "But only a close above the downtrend at 0.7777 will confirm the pattern."