AUD/USD Price Analysis: Aussie sticks to six-week highs as Fed leaves rates unchanged

 

 

 

AUD/USD is trading in six-week highs as the bullish recovery from mid-March remains intact. The spot is holding above the 0.6500 figure and the main SMAs on the four-hour charts as the Fed left its interest rate unchanged. Earlier the US GDP came in worse-than-expected contracting 4.8% in the first quarter of this year. 

 

The buyers are likely looking for a breakout of the 0.6570 level en route toward the 0.6660 level and 0.6770 levels. On the flip side, AUD/USD should meet support near 0.6500, 0.6445 and the 0.6400 figure.