AUD / USD Analysis

AUD / USD Analysis

AUD / USD tried to test the 0.7183 level in the third session on Wednesday and was suppoted by renewed sales in the US dollar. The bulls quickly regained control, although the dollar was nearing the two-year lows. The US currency is weak against its major competitors in the light of the re-influence of the coronavirus and the US economic recovery, which has fallen amid Fed's expectations. FOMC will conclude its two-day monetary policy meeting Wednesday. The result may indicate a tougher stance that lowers economic growth prospects. Markets emphasized the collapse of the dollar as the Fed could pull the real rates of the USA further into the negative region. The deterioration in US consumer confidence also keeps the dollar under pressure. Prior to the Fed event, US focuses on Pending Homes Sales for risk trends and new trading incentives.