Back
16 Sep 2013
AUD/USD jumps above 0.93 on Summers withdraw from FED race
FXstreet.com (Barcelona) - The AUD/USD foreign exchange rate is last quoted at 0.9318 bids amid a highly volatile environment off fresh session and weekly highs at 0.9348 recently printed in the interbank pre-open from previous weekly close Friday at 0.9245 after news hitting the newswires saying Fed candidate for governor Larry Summers has withdrawn name for Fed chairmanship, the WSJ said.
AUD/USD likely to consolidate before FOMC
The Aussie has moved around 100 pips higher this early Monday in the Asia-Pacific after news candidate for FED chairman has withdraw himself from race as he was considered hawkish enough to give tapering a big push, thus USD selling off at this moment across the board, just 2 days ahead of key Wednesday's FOMC. The pair is up more than +1% so far for the day, and “Consolidation of recent gains likely to continue before FOMC,” said IFRMarkets analyst Richard Sexton.
AUD/USD key technical levels
Immediate resistance to the upside for AUD/USD shows at recent session highs 0.9348, followed by Thursday's Asian session highs at 0.9355, and June 09 lows at 0.9386. To the downside, closest support lies at Wednesday's highs 0.9320, followed by Wednesday's lows at 0.9276, and past Monday's highs at 0.9243.
AUD/USD likely to consolidate before FOMC
The Aussie has moved around 100 pips higher this early Monday in the Asia-Pacific after news candidate for FED chairman has withdraw himself from race as he was considered hawkish enough to give tapering a big push, thus USD selling off at this moment across the board, just 2 days ahead of key Wednesday's FOMC. The pair is up more than +1% so far for the day, and “Consolidation of recent gains likely to continue before FOMC,” said IFRMarkets analyst Richard Sexton.
AUD/USD key technical levels
Immediate resistance to the upside for AUD/USD shows at recent session highs 0.9348, followed by Thursday's Asian session highs at 0.9355, and June 09 lows at 0.9386. To the downside, closest support lies at Wednesday's highs 0.9320, followed by Wednesday's lows at 0.9276, and past Monday's highs at 0.9243.