AUD/USD jumped due to Federal Reserve

Note: This section contains information in English only.
Source: Dukascopy Bank SA


As the head of the US Federal Reserve Jerome Powell stated that the Fed is not considering 0.75% interest rate hikes, the value of the US Dollar plummeted. On the AUD/USD currency exchange rate charts the event resulted in a jump from 0.7126 up to 0.7266. On Monday morning, the pair started a decline, as it bounced off the 0.7266 level and approached the 0.7200 mark.

If the pair continues to retrace back down, support could be provided by the weekly R1 simple pivot point at 0.7187 and the 0.7150 mark together with the 50-hour simple moving average. Further below, the combination of the 100 and 200-hour simple moving averages and the weekly simple pivot point at 0.7110/0.7130 might stop a decline of the Australian Dollar against the US Dollar.

On the other hand, a surge of the currency pair might encounter resistance in the 0.7260/0.7266 zone, before approaching the 0.7300 mark and the weekly R2 simple pivot point at 0.7317.
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Thu, 05 May 2022 10:22:51 GMT

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