AUD/USD dropped overnight as the US dollar picked up a bid and took on the 93 area in the DXY. Risk sentiment was dishevelled on the back of the move in the greenback that started before the FOMC minutes. AUD/USD was already below the 21-hour moving average and the minutes were the nail in the coffin for an extension to market structure. As per the overnight analysis, AUD/USD has reached the downside target at the structure: AUD/USD ahead of the FOMC minutes: At the time of writing, AUD/USD is trading at 0.7171, The price reached a 23.6% Fibonacci retracement level and has been rejected there. Looking left on the charts, there could be some commitment from the bears at a major structure of the prior uptrend (0.7160/70) before the price might be drawn towards a deeper retracement to the 200-moving average on the 4-hour time frame, 0.7100/7110. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next China sets 1-year loan prime rate at 3.85% vs 3.85% a month earlier FX Street 2 years AUD/USD dropped overnight as the US dollar picked up a bid and took on the 93 area in the DXY. Risk sentiment was dishevelled on the back of the move in the greenback that started before the FOMC minutes. AUD/USD was already below the 21-hour moving average and the minutes were the nail in the coffin for an extension to market structure. As per the overnight analysis, AUD/USD has reached the downside target at the structure: AUD/USD ahead of the FOMC minutes: At the time of writing, AUD/USD is trading at 0.7171, The price reached a 23.6% Fibonacci retracement level and has… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
