Price Movement Since yesterday, AUD/USD moved down by around 20 pips before moving back up by around 40pips.
Trend Overall, AUD/USD is trending downwards.
Important Issue This morning, the U.S. FOMC kept the target range for interest rate unchanged at 2.25% to 2.5%.
In the FOMC Statement, the Committee finds that inflation nearing 2% is still a likely outcome, although they also mention that “uncertainties about this outlook have increased”.
From the FOMC Economic Projections, the Federal Reserve does not expect any rate cuts in 2019 as the central bank’s median target for the interest rate remains at 2.4% for 2019, unchanged from its March projection. However, the June’s projections projected a lower median target of 2.1% for 2020, hinting at possible rate cut(s) in 2020.
Technical AUD/USD is testing the resistance level of 0.69100.
Price Levels Current Price: 0.68920 Next Resistance: 0.69100 Next Support: 0.68000