AUDUSD: FOCUS REMAINS ON FOMC
AUDUSD picked up bids to retest yesterday's high at 0.71482 during the european session. The recovery move looked to be amid broadly softer dollar during sluggish momentum.
The USD softening seems to be burdened by the pullback in treasury yeilds protrayed on Tuesday as well as the US Fed Reserve would not stick by any major surprises that could drive the greenback
The pair's recent buying is likely to continue in a phased manner ahead of the US session, where in the US ISM Services PMI and ADP Employment Change, as well as geopolitical and covid linked headlines could entertain AUDUSD traders
Above all, how the Fed takes a big leap to tame inflation and still rejects economic fears will be an interesting case to watch
This is an article, not financial advice , always do your own research.
If you have any questions, you can write it in the comments below and I will answer them
And please don't forget to support this idea with your like and comment
The USD softening seems to be burdened by the pullback in treasury yeilds protrayed on Tuesday as well as the US Fed Reserve would not stick by any major surprises that could drive the greenback
The pair's recent buying is likely to continue in a phased manner ahead of the US session, where in the US ISM Services PMI and ADP Employment Change, as well as geopolitical and covid linked headlines could entertain AUDUSD traders
Above all, how the Fed takes a big leap to tame inflation and still rejects economic fears will be an interesting case to watch
This is an article, not financial advice , always do your own research.
If you have any questions, you can write it in the comments below and I will answer them
And please don't forget to support this idea with your like and comment
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