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2025-09-17 11:19:11
AUD/USD edged lower, but a breakout above key resistance may require dovish signals from the Fed. 1. On Wednesday, AUD/USD fell 0.1% to trade around 0.6678, failing to break through the 0.6685-90 resistance zone for the second time in recent days. A breakout above the November 7 high of 0.6687 is needed to ignite bullish sentiment and unlock further upside potential. 2. Market focus is on the outcome of the Federal Reserve (FOMC) meeting, to be released at 2:00 a.m. Beijing time on Thursday. While a 25 basis point rate cut is widely expected, a more dovish policy statement or from Chairman Powell could be key to a breakout for the Australian dollar. Recent pressure from the Trump administration on Fed policy has increased the likelihood of a larger rate cut or stronger easing guidance. 3. Regarding economic data, Australia will release its August employment report on Thursday. The survey shows that the market expects employment to increase by 21,000 and the unemployment rate to remain at 4.2%. 4. During the Asian trading session, AUD/USD traded in a range of 0.6672-90. The lower support is at 0.6415 and 0.6373, and the upper resistance is at 0.6690 and 0.69435
