AUD/USD bounced higher Monday and hit day highs at 0.7570 before reversing lower to 0.7540 later in US session. September RBA minutes released today were uninspiring as the RBA remains firmly on hold and really the market is looking to the FED for new big AUD/USD move.
The FED and BOJ meetings tomorrow loom large with both being live risk events able to change the mood and direction of the markets. The BOJ is not expected to cut but talk about it and likewise the FED is not expected to hike but talk about.
Anything different to the widely expected actions above would see huge moves with USD/JPY obviously the pair with most potential in the next 48 hours. Global Bond markets are also watching carefully with the recent selloff perhaps just on pause to see how the FED reacts tomorrow.
| AUD/USD |
9/20/2016 6:00 AM |
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Trend daily chart  (=) |
Trend weekly chart  (=) |
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AUD/USD Intraday: rebound. |
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Pivot: 0.7520
Our preference: long positions above 0.7520 with targets @ 0.7565 & 0.7600 in extension.
Alternative scenario: below 0.7520 look for further downside with 0.7495 & 0.7470 as targets.
Comment: the RSI shows upside momentum.
Supports and resistances:
0.7630 ***
0.7600 ***
0.7565 ***
0.7563 Last
0.7520 ***
0.7495 ***
0.7470 *** |
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