FXStreet (Cocoa) - Janet Yellen fed USD bulls as she said the Fed is on track to raise rates "before year end". As reaction, the US dollar is advancing across the board. The AUD/USD was sold aggressively at 0.7475 and now it's trading below PP of 0.7440.
Currently, AUD/USD is trading at 0.7435, down 0.21% on the day, having posted a daily high at 0.7491 and low at 0.7431. AUD/USD spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish.
According to the Yellen, “if the economy evolves as we expect, economic conditions likely would make it appropriate at some point this year to raise the federal funds rate target, thereby beginning to normalize the stance of monetary policy”. However, decision will be decided on meeting-by-meeting basis.
AUD/USD Levels
If the pair consolidates levels below 0.7440, it will find supports at 0.7415, 0.7400 and 0.7380. To the upside, resistances are at 0.7475, 0.7490 and 0.7500.
AUD/DUS 2015-07-15T13:00:00
0.74328/0.74349 (0.0820521098153%)
H0.7442 L0.74305
S3 S2 S1 R1 R2 R3
0.7430299917856 0.7444099982579 0.7458399931589 0.7486499945322 0.7500300010045 0.7514599959055
Trend Index OB/OS Index
Bullish Neutral
