From TradingView · · 1m 10s
AUD/THB awaits Fed decision
Australian dollar traders watch for Fed meeting impact on currency pair trading in tight range.
In brief
Australian dollar traders watch for Fed meeting impact on currency pair trading in tight range. AUD/THB is range-bound between 23.67-23.74, with the Fed meeting outcome as the key driver for the next move. Originally reported by TradingView.
AUD/THB closes steady
AUDTHB closed at 23.71 in the Thai market yesterday with no major Australian economic releases to move the currency.
Australia's economic momentum flat
The MI Leading Index came in at minus 0.0%, unchanged from the previous reading, showing no shift in economic momentum expectations.
External factors drive the pair
With limited domestic catalysts, AUD is expected to move mainly on Chinese economic outlook, commodity prices, risk sentiment, and USD direction.
Fed meeting is tonight's focus
The Federal Reserve meeting outcome tonight could affect capital flows and significantly influence the AUD/THB direction.
Trading range holds firm
AUDTHB remains range-bound between 23.67 and 23.74, with resistance at 23.74 and support at 23.67/23.66.
Breakout scenarios mapped out
A hold above 23.67 could rebound to 23.74, while a break below 23.66 could lead to further downside toward 23.65-23.64.
What to remember
AUD/THB is range-bound between 23.67-23.74, with the Fed meeting outcome as the key driver for the next move.
