Ransquawk

The most important event of yesterday’s session, and maybe even the whole week was the meeting of the American Federal Reserve. As expected, the main interest rate was increased from 2 to 2.25%. The forecast of 4 interest rate hikes in the whole 2018 and another 3 in 2019 was also maintained. It seems that such a resolution should gently support the dollar, at least to some currencies. Interestingly looks situation on the graph, for example, AUD/USD. The last few candles show a slide, and yesterday we have a pin bar with a long, top shadow. Even information about good budget performance in Australia and improvement of the rating for this country did not help. The technique clearly indicates a downward trend, the correction has done more than the standard range, the price tests the trend line and it seems that another downward rebound may occur.

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Ransquawk