AUD/USD reacts to US Fed

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


On Wednesday at 19:00 GMT, the US Federal Reserve confirmed that it would end quantitative easing, gradually decrease its balance sheet and hike interest rates. The event resulted in a minor decline of the USD, which was followed by a sharp surge of the US currency.

On the AUD/USD charts it was observed as a test of the 0.7180 resistance levels, which was followed by a plummeting of the rate. By Thursday morning, the pair had touched the 0.7065 level. During the decline, the rate ignored the December 20 low level near 0.7080.

If the pair begins a recovery, the weekly S2 simple pivot point at 0.7103 and the 0.7100 mark might act as resistance. Higher above, note the weekly S1 simple pivot point and the 50-hour simple moving average near 0.7140.

Meanwhile, a decline of the Australian Dollar against the USD could first look for support in the 0.7065 level, before reaching the combined support of the long term channel down pattern and the weekly S3 simple pivot point near 0.7035.
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