AUD/USD firmer, eyes 0.9440

By FXstreet.com | Updated July 30, 2014 AAA

FXStreet (Edinburgh) - The Aussie dollar extends its march higher on Thursday, lifting the AUD/USD to fresh session highs around 0.9430.



AUD/USD stronger post-FOMC



The dovish tone from the FOMC meeting and Yellen’s presser hurt the greenback across the board and gave the AUD extra wings. Spot managed to surpass the 0.9400 handle and is now looking to challenge previous highs at 0.9440. Nothing of note data wise in Oz, as markets keep digesting the FOMC statement. In the opinion of Quek Ser Leang, Market Strategist at UOB Group, “The short-term target highlighted at 0.9305/10 was not met with a low of 0.9321. AUD rallied strongly after the FOMC announcement and the current up-move appears incomplete. Expect the immediate support at 0.9370 to hold for a move towards 0.9420”.



AUD/USD levels to watch



As of writing the pair is advancing 0.17% at 0.9424 with the next resistance at 0.9438 (high Jun.12). On the flip side, a breach of 0.9324 (50-d MA) would open the door to 0.9322 (low Jun.18) and finally 0.9257 (low Jun.5).



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