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19 Jun 2013
AUD/USD falls hard to test sub 0.9400 levels
The Aussie is collapsing against the Greenback following the FOMC unchanged decision and the new Federal Reserve projections. The AUD/USD has fallen 120 pips following the announcement.
Alongside the decision to hold interest rates at their record lows, the Fed also have opted to maintain the $85bln monthly pace of asset purchases. They believe that downside risks for the US economy have diminished since last Autumn and they see a developing upside ahead for the employment picture
AUD/USD traded at sub 0.9400 levels
The AUD/USD collapsed around 120 pips from 0.9560 to break down the 0.9400 area and test the lows since June 11 at 0.9385. Currently the pair is trading around 0.9400, 0.85% down on the day. Short term perspective is slightly bearish according to the FXstreet.com trend index in the 15-minute chart.
Indicators such as MACD, CCI and Momentum are pointing to the south while the Stochastic is neutral in the 15-minute chart too.
Alongside the decision to hold interest rates at their record lows, the Fed also have opted to maintain the $85bln monthly pace of asset purchases. They believe that downside risks for the US economy have diminished since last Autumn and they see a developing upside ahead for the employment picture
AUD/USD traded at sub 0.9400 levels
The AUD/USD collapsed around 120 pips from 0.9560 to break down the 0.9400 area and test the lows since June 11 at 0.9385. Currently the pair is trading around 0.9400, 0.85% down on the day. Short term perspective is slightly bearish according to the FXstreet.com trend index in the 15-minute chart.
Indicators such as MACD, CCI and Momentum are pointing to the south while the Stochastic is neutral in the 15-minute chart too.