Aussie dollar posting a bullish threat despite possible U.S rate hike

The Aussie dollar has been doing fairly well in the global market for the last couple of two weeks. The long term bearish trend in the AUDUSD pair was ceased after the formation of the initial bottom of the pair near the critical support level at 0.7158.Most of the leading investors made a decent profit in their online trading account by riding the medium term uptrend in the AUDUSD pair in the daily chart. Though the pair has been surging upward for few consecutive weeks most of the leading investors are now worried about the next movement of the Aussie dollar due to pending rate hike decision by the FED. If FED chairperson Janet Yellen hike their interest rate on the basis of 25 points in the global market then we will see a strong decline in the Aussie dollar. But a dovish rate hike will allow the Aussie bulls to drive the price up again in the market.

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Aussie dollar testing critical resistance level prior to FOMC meeting minute

The green bucks have been facing intensive bearish pressure in the global market after Mr. Trump become the newly elected president in the U.S economy. Though the dollar index surged up to its 14 years high in the global market, the extreme level of negative consumer sentiment due to commitment failure of Mr. Trump regarding fiscal the increment of fiscal spending pushed the dollar lower in the market. On the contrary, the economic performance of the Australian economy was much more stable and the investors made a decent profit by entering long in the AUDUSD pair. Though the overall long term trend is still bearish the medium term uptrend created some unique opportunity for the traders to make some safe bucks in the market.

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