The post Australian Dollar drops to two-week low as USD strengthens appeared on BitcoinEthereumNews.com. AUD/USD drops over 0.5% to near 0.6455, its lowest level in two weeks. The US Dollar Index (DXY) holds firm near a four-day high around 98.22. The Greenback is supported by cautious sentiment ahead of Fed minutes and Jackson Hole Symposium. The Australian Dollar (AUD) weakens against the US Dollar (USD) on Tuesday, with AUD/USD slipping to its lowest level in two weeks. The pullback comes as the Greenback regains strength ahead of key US macro events, including the release of the Federal Reserve’s (Fed) July meeting minutes on Wednesday and Friday’s Jackson Hole Symposium, prompting cautious repositioning across currency markets. At the time of writing, the AUD/USD pair is trading near 0.6453, down over 0.5% on the day. Meanwhile, the US Dollar Index (DXY), which measures the Greenback’s performance against a basket of six major currencies, is holding firm near a four-day high around 98.22, underpinned by cautious market sentiment and broad-based Dollar strength. From a technical perspective, AUD/USD is currently testing support near the 0.6450 mark on the 4-hour chart. The pair has been drifting lower since briefly peaking above 0.6550 on August 14, forming a sequence of lower highs and lower lows, indicative of a short-term bearish trend. A sustained break below 0.6450 would expose the next immediate support at 0.6420, the monthly low from August 1. A failure to hold above this zone could trigger a deeper pullback toward the June low at 0.6385 On the upside, initial resistance is seen near the 21-period Simple Moving Average, currently at 0.6498. This coincides with recent intraday swing highs and could cap any recovery attempts. A break above that would bring the 50-period SMA into focus. However, the 0.6550 level remains the key to shift the broader bias back to neutral, as it marks the August swing high… The post Australian Dollar drops to two-week low as USD strengthens appeared on BitcoinEthereumNews.com. AUD/USD drops over 0.5% to near 0.6455, its lowest level in two weeks. The US Dollar Index (DXY) holds firm near a four-day high around 98.22. The Greenback is supported by cautious sentiment ahead of Fed minutes and Jackson Hole Symposium. The Australian Dollar (AUD) weakens against the US Dollar (USD) on Tuesday, with AUD/USD slipping to its lowest level in two weeks. The pullback comes as the Greenback regains strength ahead of key US macro events, including the release of the Federal Reserve’s (Fed) July meeting minutes on Wednesday and Friday’s Jackson Hole Symposium, prompting cautious repositioning across currency markets. At the time of writing, the AUD/USD pair is trading near 0.6453, down over 0.5% on the day. Meanwhile, the US Dollar Index (DXY), which measures the Greenback’s performance against a basket of six major currencies, is holding firm near a four-day high around 98.22, underpinned by cautious market sentiment and broad-based Dollar strength. From a technical perspective, AUD/USD is currently testing support near the 0.6450 mark on the 4-hour chart. The pair has been drifting lower since briefly peaking above 0.6550 on August 14, forming a sequence of lower highs and lower lows, indicative of a short-term bearish trend. A sustained break below 0.6450 would expose the next immediate support at 0.6420, the monthly low from August 1. A failure to hold above this zone could trigger a deeper pullback toward the June low at 0.6385 On the upside, initial resistance is seen near the 21-period Simple Moving Average, currently at 0.6498. This coincides with recent intraday swing highs and could cap any recovery attempts. A break above that would bring the 50-period SMA into focus. However, the 0.6550 level remains the key to shift the broader bias back to neutral, as it marks the August swing high…

                                                                               Powell said the Federal Open Market Committee is weighing interest rates on a meeting-by-meeting basis, with no long-term consensus.                     US Federal Reserve Chair Jerome Powell said the 19 members of the Federal Open Market Committee (FOMC) remain divided on additional interest rate cuts in 2025.At Wednesday’s press conference after the Fed’s 25-basis-point rate cut, Powell said the central bank is trying to balance its dual mandate of maximum employment and price stability in an unusual environment where the labor market is weakening even as inflation remains elevated. Powell said:Powell said that the “median” FOMC projection from the Federal Reserve’s Summary of Economic Projections (SEP), the Fed’s quarterly outlook for the US economy that informs interest rate decisions, projected interest rates at 3.6% at the end of 2025, 3.4% by the end of 2026, and 3.1% at the end of 2027.Read more