AUD/USD opened in Asia Wednesday around $1.0189 and has been seen in a moderate range of $1.0167/93 so far this morning, with
the pair currently trading $1.0181 down 7 pips from the NY close. AUD prices initially dipped lower on the Tokyo opening, with some sell flow seen from Japanese named accounts. Some selling pressure in AUD/JPY also contributed to some weakness, sending AUD/USD to session lows of $1.0167. Since then prices have edged their way back higher amid some modest short covering ahead of tonight’s FOMC announcement, with the rate recovering to around $1.0184. Medium offers remain around $1.0220 and also $1.0250/55, whilst a level of support around $1.0150 should contain any correction lower after prices found some heavier resistance around those levels yesterday.
EasyForexNews Research Team