AUDUSD Chart Technical Outlook Above 0.6825, the next target is 0.6870
The Aussie Dollar is on a bullish trend. The large rate cut by the Fed this week has highlighted the monetary policy divergence with the RBA and has given an additional boost to the pair.
Bulls are testing previous highs at 0.6825 at the moment. A break of this level might trigger a further upleg towards the December 23 high at 0.6870. Supports are 0.6740 and 0.6700.
The disappointing decision by the PBoC, which has kept interest rates unchanged against expectations does not seem to have weighed on the AUD which remains propelled by the risk-on sentiment amid hopes that a global easing cycle is ahead.
Later Today Patrick Harker will be the first Fed official to meet the press after the monetary policy decision. US Jobless Claims data seen on Thursday revealed a solid labour market which might prompt Harker to cool off expectations of a steep easing cycle and boost Dollar recovery.
