AUD/USD testing 0.7200 bears commitments

By FXStreet FXStreet (Guatemala) – AUD/USD is currently bid with a high of 0.7207 and a low of 0.7102.

AUD/USD is challenging the upside with risk-on on the back of the FOMC minutes where members conveyed that a December rate hike might be appropriate.

The commitment of the bears at 0.71 was tested and the bulls took charge while the 0.72 handle is now coming under pressure on a follow through of the bids. The greenback is weaker across the board on perhaps a technical basis offering a fading opportunity while the 100 DMA could be a compelling level to the bears while the divergence between the Fed and RBA should keep a lid on the recovery from Sep lows circa 0.6900.
For more information, read our latest forex news. …read more

Source:: FX Street