AUD/USD: to fade or not to fade?

By FXStreet FXStreet (Guatemala) – AUD/USD is currently bid with a high of 0.7214 and a low of 0.7101.

AUD/USD is sticking with the better bid theme and continues to be challenging the upside after the FOMC minutes where members conveyed that a December rate hike might be appropriate and left the market with an appetite for risk.The commitment of the bears at the 0.72 handle is now coming under pressure on a follow through of the bids.

The fading opportunity mentioned through the 100 DMA could be challenged still according to analysts at UOB Group with a sustained rally to the upside although fundamentals and the divergence between the Central Banks may prove otherwise as bears focus on the Sep lows circa 0.6900.
For more information, read our latest forex news. …read more

Source:: FX Street