AUD/USD steadies around 0.7350 after fresh 3-week lows

The Australian dollar has managed to pare losses versus the greenback, as investors take a breather following strong USD gains on the back of Fed’s decision.

AUD/USD dropped to a 3-week low of 0.7333 on Friday, but managed to recover some ground over the last hours, although the upside also remains limited. AUD/USD is currently trading at 0.7350, up 0.1% on the day, but still more than 150 pips below pre-Fed levels.

On the data front, the US will release housing starts and building permits data before the week-end.

AUD/USD levels to watch

In terms of technical levels, immediate supports are seen at 0.7333 (Dec 16 low), 0.7310 (Nov 21 low) and 0.7285 (Jun 16 low). On the other hand, resistances could be found 0.7400 (psychological level), 0.7430 (Dec 15 high/20-day SMA) and 0.7523 (Dec 14 high).

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