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AUD/USD rejected from 0.7200, retraces yesterday’s gains

FXStreet (Córdoba) - AUD/USD has been gradually retracing yesterday’s gains as investors adopt a cautious stance ahead of the Federal Reserve monetary policy decision.

AUD/USD managed to briefly rise above the 0.7200 level and hit a 3-week high of 0.7207 before turning lower. The pair has dropped nearly 60 pips over the last hours and scored a low of 0.7147 in recent dealings. At time of writing, AUD/USD is trading at 0.7155, recording a 0.57% decline on the day.

Investors remain cautious and mostly adjusting positions heading into the key FOMC decision on rates.

AUD/USD technical levels


In terms of technical levels, AUD/USD could find next supports at 0.7135 (100-hour SMA), 0.7122 (Sep 16 low) and 0.7085 (Sep 15 low). On the flip side, resistances are seen at 0.7207 (Sep 17 high), and 0.7249 (Aug 25 high).

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