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28 Jan 2015
AUD/USD fails to hold above 0.8000
FXStreet (Córdoba) - AUD/USD steadied in a range following a brief appearance above 0.8000 underpinned by surprisingly high Australian core inflation data, which curbs rate cut expectations.
AUD/USD briefly rose above the 0.8000 mark and reached a high of 0.8024 during the European session, but failed to hold gains above the psychological level for long and entered a consolidation phase just below. At time of writing, the pair is trading at 0.7995, up % on the day.
All the attention now turns to the FOMC monetary policy statement to be published at 19:00 GMT. There will be no press conference or economic projections, so focus will be on the tone of the statement.
AUD/USD levels to watch
In terms of technical levels, AUD/USD could find immediate resistances at 0.8024 (daily high), 0.8050 (Jan 23 high) and 0.8098/0.8100 (20-day SMA/psychological level). On the flip side, supports are seen at 0.7900 (daily low/psychological level) and 0.7857 (Jan 26 low).
AUD/USD briefly rose above the 0.8000 mark and reached a high of 0.8024 during the European session, but failed to hold gains above the psychological level for long and entered a consolidation phase just below. At time of writing, the pair is trading at 0.7995, up % on the day.
All the attention now turns to the FOMC monetary policy statement to be published at 19:00 GMT. There will be no press conference or economic projections, so focus will be on the tone of the statement.
AUD/USD levels to watch
In terms of technical levels, AUD/USD could find immediate resistances at 0.8024 (daily high), 0.8050 (Jan 23 high) and 0.8098/0.8100 (20-day SMA/psychological level). On the flip side, supports are seen at 0.7900 (daily low/psychological level) and 0.7857 (Jan 26 low).