#AUDUSD @ 0.66709 Federal Reserve raises rates and signals potential pause. (Pivot Orderbook analysis)
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- Federal Reserve raises rates and signals potential pause.
- US Dollar weakens after FOMC statement.
- AUD/USD testing 0.6700 amid volatility.
The pair currently trades last at 0.66709.
The previous day high was 0.6717 while the previous day low was 0.662. The daily 38.2% Fib levels comes at 0.668, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.6657, expected to provide support.
The AUD/USD jumped to 0.6702 after the Federal Reserve’s decision due to broad-based dollar weakness. It then pulled back modestly, trimming some gains. The pair still holds a bullish tone ahead of Chair Powell’s press conference.
The Fed raised rates to 5.00% – 5.25%, the highest level since 2007, as expected. In the statement, the central bank signaled a potential pause. Chair Powell will offer a press conference and answer questions. He is unlikely to declare ‘mission accomplished’ and will probably highlight that what happens next is ‘data-dependent’.
The US Dollar Index (DXY) dropped to 101.07 before returning to 101.35. It is still down for the day but off its lows. US yields printed fresh lows after the decision but then bounced, and are now slightly above the level they were at before the statement. US stocks hit new daily highs but then pulled back to prior levels.
The AUD/USD pair jumped to 0.6702, hitting a fresh daily high before pulling back under 0.6700. It still holds bullish momentum amid elevated volatility. Above 0.6705, the next resistance is seen at Tuesday’s high of 0.6717, followed by 0.6745/50. On the flip side, 0.6675 is the immediate support, followed by 0.6650.
Technical Levels: Supports and Resistances
AUDUSD currently trading at 0.6689 at the time of writing. Pair opened at 0.6663 and is trading with a change of 0.39 % .
| Overview | Overview.1 | |
|---|---|---|
| 0 | Today last price | 0.6689 |
| 1 | Today Daily Change | 0.0026 |
| 2 | Today Daily Change % | 0.3900 |
| 3 | Today daily open | 0.6663 |
The pair is trading above its 20 Daily moving average @ 0.6678, above its 50 Daily moving average @ 0.6688 , below its 100 Daily moving average @ 0.679 and below its 200 Daily moving average @ 0.6734
| Trends | Trends.1 | |
|---|---|---|
| 0 | Daily SMA20 | 0.6678 |
| 1 | Daily SMA50 | 0.6688 |
| 2 | Daily SMA100 | 0.6790 |
| 3 | Daily SMA200 | 0.6734 |
The previous day high was 0.6717 while the previous day low was 0.662. The daily 38.2% Fib levels comes at 0.668, expected to provide resistance. Similarly, the daily 61.8% fib level is at 0.6657, expected to provide support.
Note the levels of interest below:
- Pivot support is noted at 0.6616, 0.657, 0.652
- Pivot resistance is noted at 0.6713, 0.6764, 0.681
| Levels | Levels.1 |
|---|---|
| Previous Daily High | 0.6717 |
| Previous Daily Low | 0.6620 |
| Previous Weekly High | 0.6706 |
| Previous Weekly Low | 0.6574 |
| Previous Monthly High | 0.6806 |
| Previous Monthly Low | 0.6574 |
| Daily Fibonacci 38.2% | 0.6680 |
| Daily Fibonacci 61.8% | 0.6657 |
| Daily Pivot Point S1 | 0.6616 |
| Daily Pivot Point S2 | 0.6570 |
| Daily Pivot Point S3 | 0.6520 |
| Daily Pivot Point R1 | 0.6713 |
| Daily Pivot Point R2 | 0.6764 |
| Daily Pivot Point R3 | 0.6810 |
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