Price Movement Since yesterday, AUD/USD moved up by around 25pips before moving back down by around 25pips.
Trend AUD/USD is trending downwards.
Important Issue This morning, the Federal Reserve released the minutes for the April 30th/May 1st meeting. The Fed is seen to be more cautious in regards to future interest rate adjustments through the following statements mentioned in the minutes:
"In light of global economic and financial developments as well as muted inflation pressures, participants generally agreed that a patient approach to determining future adjustments to the target range for the federal funds rate remained appropriate. Participants noted that even if global economic and financial conditions continued to improve, a patient approach would likely remain warranted, especially in an environment of continued moderate economic growth and muted inflation pressures."
Technical AUD/USD is moving towards the support level of 0.68550.
Price Levels Current Price: 0.68697 Next Resistance: 0.69573 Next Support: 0.68550