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Forex pair AUD/USD has been mostly flat around 10:00 GMT, with occasional measly gains and losses ranging from flat to 0.05% at maximum.

As of writing, it stands steady at 0.00% to 0.7666, just a few points off the session prior’s two-and-a-half week peak of 0.7694. Wednesday’s intraday high stood at 0.7686.

The Australian dollar was barely changed against its US counterpart, which is on a rebound today following US Democratic nominee Hillary Clinton winning Monday’s US presidential debate against Republican Party candidate Donald Trump, and Tuesday’s announcement on upbeat key data on consumer confidence index, which climbed to a nine-year peak of 104.1 this September from 101.8 in August.

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The US dollar index tacked on 0.13% to 95.47 as of 10:16 GMT, recovering from previous Wednesday’s policy decision coming from the Federal Reserve to hold off on raising rates for September and subtracting one less rate hike chance this year, leaving the only prospect for a hike in December.

AUD/USD, on a weekly timeframe on the chart, is seen with Bollinger bands preparing for a squeeze that is still possibly moving upwards nonetheless. The weekly trend is evidently bullish as the pair recovered from the two weeks’ prior decline. The trend line indicates that the major trend is still strong, thus likely that the bulls will remain in control of AUD/USD for the week-term.

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The two declines beginning September can be attributed to a worse-than-expected retail sales and private new capital expenditure report on September 1and weaker employment change data on September 15 in Australia as the US dollar gained on upbeat US key data and hawkish Fed sentiments.

On a daily view however, the pair will be trading in a rather volatile session as the Bollinger bands are seemingly continuing a previous breakout that began almost three weeks prior. The current candle remains as a doji with a meager dip from its opening price. It is likely to remain steady for the rest of Wednesday’s session, until additional fundamentals are to intervene; which is to say, another sequence of US economic reports is scheduled later today, thus signaling possible further movement for the dollar and eventually for the pair.

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Later events include core durable goods orders reports and speeches from Fed authorities. Along with those, markets have also shifted their focus on an upcoming meeting between major oil producers—both OPEC members and non-members.

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