FXstreet.com (Barcelona) - Australian Dollar fell on Wednesday from 0.8790 all the way to 0.8645 on the back of Fed's statement, but the pair has been able to pare losses during the day, reaching levels around 0.8760 at the moment of writing, right below 0.8775 resistance area.
According to the Kshitij Consultancy Service Team, strong break above 0.8775 could drive the Aussie to 0.8900 area: Still trading below the significant Resistance region 0.8750-75. As mentioned earlier a strong break above 0.8675 might see a rise towards 0.8850-8900 in the coming sessions/days.
On the downside the Kshitij Consultancy Service Team observes support at 0.8700 area: However, if the Resistance region (0.8750-75) holds, we might see a downmove towards 0.8700 where some Support is seen. A further move breaking below 0.8700 might see 0.8650-30 on the downside.