AUD/USD downside exposed on greenback's resurgence

Currently, AUD/USD is trading at 0.7578, down -0.24% on the day, having posted a daily high at 0.7625 and low at 0.7571.

Fed's Kaplan: Technology, globalization is holding down U.S. inflation

AUD/USD is in a minor correction of the downside from 0.7623 overnight highs and is pressured with a comeback in the greenback. The Fed speakers today were yet again supportive of further rate hikes and advocated for moves this year while suggesting the US economy was on a solid footing. The RBA, on the other hand, have proven to be concerned for wages and the housing markets, thus leaving rate son hold for the time being, as stated within the minutes overnight. 

AUD/USD levels

Valeria Bednarik, chief analyst at FXStreet explained that technically, the short-term picture has turned bearish, "with the price settling at its lowest in a week and below a now flat 20 SMA in the 4 hours chart, whilst technical indicators maintain their bearish slopes within a negative territory. Still, the pair pared loses above 0.7560, the immediate static support and the level to break to confirm additional declines for this Wednesday."