ANALYSIS
NQ100 Finds Support from PPIApr 14
Selling Pressure Continues in AUDUSD
After the Reserve Bank of Australia (RBA) increased the policy rate by 50 basis points to 2.35 percent in line with market expectations in its September meeting, we saw some upward attempts in the pair. However, before the Federal Open Market Committee (FOMC) meeting, which is a few days away, we see that dollar-denominated assets put pressure on developed country currencies. Here, the impact of the dollar index, which peaked at 109 to 20, and the US 10-years, which settled above the psychological 3.00, is extremely important. The pair also maintains its downward trend. As long as 0.6835, which is indicated by the 50-period weighted moving average above, is defended as resistance, the bearish risk may continue to remain in place until it reaches 0.6700, the value of the Fibonacci 161.8 percent expansion line behind 0.6750.
