AUDUSD Post FOMC

Sep 19

Now that the FOMC meeting has completed and we are left with rates 50 basis points lower, we expect a risk-on sentiment continuing in the markets. Australia’s labor report came in slightly better than expected and given those two factors, Aussie should push higher against the dollar. While the daily chart shows the park playing with recent highs, there is room to move higher if sentiment pushes it to .6957 (200 MA). Holding longs until that target as long as risk-on sentiment holds.