AUD/USD tumbles below 0.7500 as Fed raises rates

The US dollar rose across the board after the decision of the Federal Reserve to raise interest rate by 25bp as expected, on a unanimous decision. According to the new macroeconomic projections FOMC members see a potential of 3 rate hikes during 2017. 

AUD/USD dropped from 0.7505 and tumbled to 0.7444, it was still holding above weekly lows that lie at 0.7425/30 and testing levels under an uptrend line from November lows. 

The momentum was favoring the US dollar in the market. Despite falling against the US dollar, the aussie rose modestly against the kiwi after the FOMC decision. 

AUD/USD levels 

To the downside, support levels might now be seen at 0.7425/30 (Dec 8 & 12 low), followed by 0.7400 (psychological) and 0.7370 (Dec 1 low). On the upside, resistances are seen at 0.7480 (Asian session low), 0.7520/25 (daily high) and 0.7550.