The US dollar index rose to 105.40 after the Fed’s 75-basis-point key rate hike, while the stock and the crypto markets fell. However, during the past few days, investors and traders returned to risk assets as they expect inflation growth to slow. Moreover, Jerome Powell, the head of the Federal Reserve, announced the Fed might start cutting the key rate by 2024, which is the most evident hint of an upcoming market reversal.
AUD/USD: aussie testing SSB’s support
2019-11-11 • Updated
Technical levels: support – 0.7600/20, 0.7570; resistance – 0.7670, 0.7700.
1. Buy — 0.7620; SL — 0.7600; TP1 — 0.7670; TP2 — 0.7700.
Reason: narrowing bullish Ichimoku Cloud with falling Senkou Span A; a new dead cross of falling Tenkan-sen and Kijun-sen; the prices are entered into the Cloud and testing the support of Senkou Span B.
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