AUD/USD: finding territory on the 0.75 handle while DXY drops below 101 handle
|Currently, AUD/USD is trading at 0.7504, up 0.78% on the day, having posted a daily high at 0.7520 and low at 0.7430.
AUD/USD has made fresh territory on the 0.75 handle in a continuation of the sell-off in the greenback while the DXY breaks below the 101 handle to daily lows. The US dollar is being unwound after last year's hysteria over Trump and the Fed.
FOMC’s Lockhart sees two hikes in 2017
Analysts at Brown Brothers Harriman suggested that the main consideration appears to be the further unwinding of positions as no more details of the new administration's policies were provided. "The Dollar Index fell it its lowest level since December 14, the day the Fed hiked rates. The US 10-year bond yield reached almost 2.3% today. That is the lowest yield since November 30. The two-year yield has slipped to 1.14%, its lowest level in about a month."
AUD/USD levels
With spot trading at 0.7505, we can see next resistance ahead at 0.7520 (Daily High), 0.7545 (Daily Classic R2), 0.7579 (Weekly Classic R3), 0.7616 (Daily Classic R3) and 0.7813 (Annual High). Support below can be found at 0.7503 (Daily 100 SMA), 0.7501 (Daily 200 SMA), 0.7498 (Monthly High), 0.7495 (Daily Classic R1) and 0.7476 (Hourly 20 EMA).
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.