Home Analysis AUD/USD is showing weakness ahead of Fed rate hike decision

AUD/USD is showing weakness ahead of Fed rate hike decision

AUDUSD is showing weakness ahead of Fed rate hike decision - forexspacex.com

The AUD/USD pair extended the pull back from the 21-day exponential moving average price and slipped below the major psychological support level of 0.69000 level on Friday. The risk-sensitive Australian dollar remains on bear target ahead of the most anticipated rate hike decision. From a fundamental perspective, an aggressive interest rate hike from U.S. central bank is bearish for Aussie. Federal Reserve chairperson Jerome Powell has already signaled an aggressive rate hike in the previous weeks which is keeping the bears hopeful for more downside extensions.

Pivot Points Sep 16, 2022 11:40AM GMT

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