AUD/USD clocks 9-day high

Aussie remains well bid on account of dovish Fed with comments from RBA Governor Lowe adding the bullish tone around the currency in Asia. The AUD/USD pair clocked a high of 0.7650 levels.

Rises for fourth consecutive day

The spot extended the three-day winning in Asia as USD continues to get offered across the board following FOMC event. The committee revised lower its long-term interest rate trajectory, revised economic forecasts lower and called for a much slower rate hike path.

Meanwhile, comments from RBA’s Governor Lowe suggested the central bank is comfortable with the current policy and is no hurry to reduce rates. With no data due for release, the spot remains at the mercy of the overall demand/supply of the US dollars.

AUD/USD Technical Levels

A break above the immediate resistance of 0.7656 (pivot R1) would open doors for 0.7698 (Sep 7 high) and 0.7732 (Sep 8 high). On the lower side, failure to hold above previous day’s high of 0.7630 would open doors for a much deeper retracement to 0.7605 (daily low) and 0.7580 (50-DMA).