Inflation data out of Australia for the third-quarter eased further, but the AUDUSD kept its bullish momentum is now trading at a strong resistance level. Today’s US interest rate decision is expected to have a big impact on the US Dollar and forex traders are anticipated to wait for the press conference following the expected interest rate cut before committing to new US Dollar positions. How will price action react after the press conference? Today’s fundamental analysis will take a look at price action in both directions.

Forex traders will pay close attention to today’s FOMC press conference as expectations for an interest rate cut are already priced in. Will the Fed signal that today’s cut will be the last or are more to come? Prior to the announcement, key ADP and GDP data will be released and economists predict a further slowdown across the board. How will this impact the AUDUSD? Subscribe to the PaxForex Daily Fundamental Analysis and earn over 5,000 pips per month.