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

By FXStreet 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).
For more information, read our latest forex news. …read more

Source:: FX Street