The Australian dollar has fallen for several days, dropping below 0.7110 after the Fed announced it would keep interest rates unchanged. Fed Chair Jerome Powell also said he will remain on the committee after his term ends, signaling that the Fed will keep its current policy in place.



The Fed’s policy statement suggests the U.S. economy remains strong, but inflation has risen due to higher energy prices, which are linked to the situation in the Middle East. The vote was split 8 to 4, with some governors wanting to cut interest rates, but most still support holding rates steady.

What’s notable is that AUD/USD now appears to be positioning itself around the psychological level of 0.7100. If it breaks lower again, the next level would be 0.7056, followed by 0.7000. It looks like the market is waiting to see what decision it will make.
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