AUD/USD jumps to session highs at 0.6475 after FOMC statement

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  • Aussie hits session high at 0.6475 after Fed decision.
  • The market has perceived the balance sheet tilted to the dovish side.
  • The FOMC will factor in policy lags for future hikes.

The USD reacted negatively immediately after the release of the Fed’s monetary policy decision. The Aussie, which had been trading in a tight range above 0.6400, has risen to session highs of 0.6470 so far.

Investors see dovish attitude in Fed statement

As expected, the bank has raised the federal funds rate by 75 basis points, for the fourth consecutive time, to the range of 3.75% to 4.00%.

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However, the bank’s statement has leaned to the dovish side. The committee notes that, in determining the pace of future rate hikes, they will take into account “theaccumulated hardening of the politics monetary the lags with which monetary policy affects economic activity and inflation, and economic and financial developments.”

In addition, the bank has warned about recent indicators that point to a modest growth in spending and production.

Technical levels to watch

AUD/USD

Overview
last price today 0.6465
Today I change daily 0.0070
Today’s daily variation in % 1.09
Daily opening today 0.6395
Trends
daily SMA20 0.635
daily SMA50 0.6565
daily SMA100 0.6742
daily SMA200 0.6982
levels
Previous daily high 0.6464
Previous Daily Low 0.6377
Previous Weekly High 0.6522
Previous Weekly Low 0.6272
Previous Monthly High 0.6548
Previous Monthly Low 0.617
Daily Fibonacci of 38.2% 0.6431
Daily Fibonacci of 61.8% 0.641
Daily Pivot Point S1 0.636
Daily Pivot Point S2 0.6325
Daily Pivot Point S3 0.6273
Daily Pivot Point R1 0.6447
Daily Pivot Point R2 0.6499
Daily Pivot Point R3 0.6534

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Source: Fx Street

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