Back
18 Mar 2015
AUD/USD steadies below 5-DMA ahead of FOMC
FXStreet (Mumbai) - AUD/USD defends mild gains in the mid-Asian session, sitting comfortably above 0.76 barrier, as markets remain calm ahead of FOMC decision with all eyes on whether or not policymakers drop the word "patience" from the statement.
AUD/USD supported above 0.7600
Currently, the AUD/USD trades higher by 0.10% at 0.7624 levels, hovering close to fresh session highs previously posted at 0.7630. The AUD/USD pair shaved-off most gains from the previous session and trades marginally higher on the back of slightly weaker US dollar across the board after poor housing data released in the US last session dragged the greenback lower.
Moreover, a minor recovery seen in commodity prices also provides some support to the Aussie. Meanwhile, traders now brace for the most await FOMC statement due later in the day for further momentum on the pair.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.7649 (10-DMA) levels, above which gains could be extended to 0.7681 (March 16 High) levels. On the flip side, support is seen at 0.7600 levels from here it to 0.7570 (March 12 Low) levels.
AUD/USD supported above 0.7600
Currently, the AUD/USD trades higher by 0.10% at 0.7624 levels, hovering close to fresh session highs previously posted at 0.7630. The AUD/USD pair shaved-off most gains from the previous session and trades marginally higher on the back of slightly weaker US dollar across the board after poor housing data released in the US last session dragged the greenback lower.
Moreover, a minor recovery seen in commodity prices also provides some support to the Aussie. Meanwhile, traders now brace for the most await FOMC statement due later in the day for further momentum on the pair.
AUD/USD Technical Levels
The pair has an immediate resistance at 0.7649 (10-DMA) levels, above which gains could be extended to 0.7681 (March 16 High) levels. On the flip side, support is seen at 0.7600 levels from here it to 0.7570 (March 12 Low) levels.