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Aussie Blips Higher With FOMC Risk Out Of Way

AUD

Australia returns from holidays, with AUD/USD last seen at $0.7121, a handful of pips higher on the day. The rate operates in close proximity to yesterday's post-FOMC low.

  • Wednesday saw AUD/USD trade sideways ahead of the announcement of the Fed's monetary policy decision. The pair took a nosedive amid broader demand for the greenback, as the Fed signalled a more aggressive tightening path, with the first rate hike expected in March.
  • Bulls need a clearance of Jan 24 high of $0.7188 before setting their sights on $0.7277, which capped gains on Jan 20. Conversely, a fall through Jan 24/Dec 20 lows of $0.7091/82 would bring the 76.4% retracement of the Dec 3 - Jan 13 upleg at $0.7069 into play.
  • The local docket is virtually empty during the remainder of this week.
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