#AUDUSD @ 0.66939 Fed raises rates by 25 bps, as expected. (Pivot Orderbook analysis)

…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE to read full post below containing analysis. In case of any error or you think you are not able to read the full post below, please email us at support#nehcap.com [lwa][/s2If] [s2If current_user_can(access_s2member_level4)]

• Fed raises rates by 25 bps, as expected.
• US yields and Dollar tumble on initial reaction; before Powell.
• AUD/USD testing key resistance around 0.6730

The pair currently trades last at 0.66939.

The previous day high was 0.6726 while the previous day low was 0.665. The daily 38.2% Fib levels comes at 0.6679, expected to provide support. Similarly, the daily 61.8% fib level is at 0.6697, expected to provide resistance.

The AUD/USD jumped to 0.6727 after the decision of the Federal Reserve, hitting a fresh daily high. It is testing the critical resistance zone around 0.6730 amid the broad-based Dollar’s weakness.

The Federal Reserve (Fed) raised its key interest rate by 25 bps as expected to 4.75%-5.00%. The vote was unanimous. The Fed warned that inflation remains elevated while at the same time dropping the forward guidance toward further rate hikes. The central bank said it was too soon to assess the impact of the banking crisis on the economy.

The greenback tumbled together with US yields. The US 10-year fell to 3.50% before bouncing to 3.53% while the 2-year reached momentarily levels under 4.00%.

Wall Street indices reacted to the upside; however, they have retreated a bit during the last minutes. The improvement in market sentiment offers extra support to the AUD/USD.

Fed Chair Powell is about to start its press conference. If his words align with the statement, the US Dollar could continue its slide, boosting AUD/USD above the key resistance zone of 0.6730.

Powell Speech Preview: Dovish remarks after raising interest rates to 5% – Follow LIVE

Technical Levels: Supports and Resistances

AUDUSD currently trading at 0.6706 at the time of writing. Pair opened at 0.6669 and is trading with a change of 0.55 % .

The pair is trading above its 20 Daily moving average @ 0.6693, below its 50 Daily moving average @ 0.6862 , below its 100 Daily moving average @ 0.6783 and below its 200 Daily moving average @ 0.6763

The previous day high was 0.6726 while the previous day low was 0.665. The daily 38.2% Fib levels comes at 0.6679, expected to provide support. Similarly, the daily 61.8% fib level is at 0.6697, expected to provide resistance.

Note the levels of interest below:

• Pivot support is noted at 0.6637, 0.6605, 0.656
• Pivot resistance is noted at 0.6714, 0.6758, 0.679

[/s2If]
Join Our Telegram Group