AUD/USD reacts to central banks

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


First of all note the high volatility of late Wednesday's trading. The moves were caused by the US Federal Reserve rate hike and press conference. The initial hike caused a spike down, during the press conference the pair recovered, after all events were over the decline continued.

The AUD/USD extended the decline on Thursday morning until the Bank of Japan shook all markets. Namely, the BoJ intervened in the forex market by buying up the Yen, which caused a decline of the US Dollar index, and subsequently a drop of the AUD/USD currency exchange rate.

A resumption of the previous decline of the pair could look for support in the 0.6600 and 0.6550 levels. Further below, take into account the weekly S2 simple pivot point at 0.6522 and the 0.6500 mark.

On the other hand, a recovery of the Australian Dollar against the USD is expected to encounter resistance in the previous support at 0.6670 and the 50 and 100-hour simple moving averages. Higher above, the 0.6723/0.6733 zone is expected to continue to act as resistance.
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Thu, 22 Sep 2022 10:35:18 GMT

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