AUD/USD jumps to fresh highs above 0.7500 after FOMC statement

• A decline of the US Dollar pushed AUD/USD to the upside after Fed’s decision. 
• FOMC left interest rates unchanged as expected. 

The AUD/USD pair climbed from 0.7495 to 0.7533, hitting a fresh daily high after the release of the statement. It was trading at 0.7520/25, up 40 pips for the day, having the best performance since April 10. Still was near the multi-month lows it reached yesterday at 0.7473. 

The Federal Reserve kept rates unchanged at 1.50% - 1.75% as expected, on a unanimous vote. According to the statement, the FOMC sees core inflation close to the 2% target, while it appears somewhat dovish regarding growth. The Fed continues to see the economy warranting further gradual hikes.

The US Dollar retreated after the announcement. The US Dollar Index erased daily gains while gold prices climbed more than $5/oz. Equity prices in Wall Street moved higher. The rise in risk appetite and commodity currencies favored the Aussie. 

AUD/USD Levels to watch 

If the pair continues to move higher, above 0.7535 it could face resistance at 0.7550 and then at 0.7580/85 (Apr 27 high). On the downside, support might be seen at 0.7495, 0.7470/75 (May 1 & 2 low) and 0.7455.