AUD/USD Analysis: Awaits US Federal Reserve annoncement

Dukascopy Bank Team Dukascopy Bank SA

AUDUSD

During the last 48 hours, the Australian Dollar has depreciated about 0.73% in value against the US Dollar. The currency pair breached the 50-, 100– and 200-hour SMAs during Tuesday's trading session.

However, today's trading session began with an upside movement. By the middle of the day, the exchange rate has dashed through the 100– and 200-hour simple moving averages and is currently aiming for the 50-hour SMA at 0.7095.

Meanwhile, Wednesday's US Federal Reserve monetary policy might add more pressure to the currency exchange rate.

Author

Dukascopy Bank Team

Dukascopy Bank SA

Dukascopy Bank stands as an innovative Swiss online banking institution, with its headquarters situated in Geneva, Switzerland.

EUR/USD remains bid, focus stays on 1.1900

EUR/USD has broken its two-day run of losses and is ticking modestly higher on Thursday, hovering around the 1.1880 area as the US Dollar struggles to find clear direction. Weekly Initial Jobless Claims rose more than expected, taking a bit of shine off the Greenback, but markets are largely in wait-and-see mode ahead of Friday’s US CPI release.

GBP/USD sticks to the bid bias, still below 1.3700

GBP/USD is trading with decent gains around 1.3650 on Thursday. Indeed, Cable is attempting to shake off the weakness seen earlier in the week amid another choppy session for the Greenback, while a run of disappointing UK data has so far failed to derail the pair’s tentative recovery.

Gold recedes slightly, trades below $5,100

Gold remains stuck in choppy trade on Thursday, deflating marginally just below the $5,100 mark per troy ounce as the US Dollar drifts without a clear trend. Softer US Treasury yields across the curve are offering some support, but with markets treading carefully ahead of Friday’s US CPI release, conviction remains limited and price action continues to look hesitant.