24 Feb 2015
AUD/USD first shaken, then rocketed; now above 0.7800
FXStreet (San Francisco) - The AUD/USD performed wild for a few minutes following Janeth Yellen speech and weak consumer confidence data in the US.
After recovering from 0.7735, the AUD/USD got hammered at 0.7775 by the American opening and it traded at lows another time; however the pair bounced at these levels following economic data and Yellen speech and now it is testing the 0.7800 area.
In her opening remarks, Yellen has said that the Fed will be patient before raising rates, citing still-weak wage growth and the low inflationary environment.
US consumer confidence fell more than expected to 96.4. The confidence index returned to December levels after the January peak.
Currently, AUD/USD is trading at 0.7809, up 0.09% on the day, having posted a daily high at 0.7818 and low at 0.7740. AUD/USD spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish.
AUD/USD levels
If the pair consolidates levels above 0.7800, it will find next resistance at 0.7850, 0.7875 and 0.7900. To the downside, supports are at 0.7775, 0.7740 and 0.7700.
After recovering from 0.7735, the AUD/USD got hammered at 0.7775 by the American opening and it traded at lows another time; however the pair bounced at these levels following economic data and Yellen speech and now it is testing the 0.7800 area.
In her opening remarks, Yellen has said that the Fed will be patient before raising rates, citing still-weak wage growth and the low inflationary environment.
US consumer confidence fell more than expected to 96.4. The confidence index returned to December levels after the January peak.
Currently, AUD/USD is trading at 0.7809, up 0.09% on the day, having posted a daily high at 0.7818 and low at 0.7740. AUD/USD spot is in neutral territory according to the hourly FXStreet OB/OS Index, while the FXStreet Trend Index is slightly bearish.
AUD/USD levels
If the pair consolidates levels above 0.7800, it will find next resistance at 0.7850, 0.7875 and 0.7900. To the downside, supports are at 0.7775, 0.7740 and 0.7700.