Yahoo Finance AUD/USD Price Forecast – Australian Dollar Falls But Find Value Hunters
The Australian dollar has broken down significantly during the trading session on Tuesday, even slicing below the 0.6750 level. However, we have seen some buying just below there so I believe that there is significant support between here and the 0.67 handle, so it’s very likely that the Australian dollar will is due for a bounce. We have the FOMC Statement tomorrow, and I believe that the market is probably going to be paying attention to that more than anything else. That being said, it’s very important to think about the tone of the Federal Reserve more than anything else, because we already know that Asia is struggling. That being said though, if the Fed sounds like it’s getting a bit more dovish, there is a complete realigning of the markets just waiting to happen.
AUD/USD Video 29.01.20
This is more or less the idea of an investment than a trade. The Australian dollar is currently sitting just above the range that we had seen after the great financial crisis, so therefore one would have to think that we could be getting close to a turning. We need to see good news coming out of Asia in order to see the Australian dollar rally significantly, or we could see the Federal Reserve look to loosen monetary policy which would have the same effect. The statement on Wednesday could be crucial, so pay attention to the tone. That being said though, it does look like people are willing to step in and pick up a bit of value. Again though, this is more of an investment and less of a trade.
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This article was originally posted on FX Empire
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