AUD/USD Tests Key Uptrend Support Ahead of FOMC Rate Decision

The AUD/USD has been under pressure after stalling at fresh highs in September. The recent reversal has weakened the near-term momentum profile, but the broader advance remains intact for now as Aussie reaches an important inflection zone.

The daily momentum has fallen below neutral territory for the first time since July, leaving bulls increasingly vulnerable. A break lower would strengthen the case for a deeper correction, while a recovery through near-term resistance would ease immediate downside pressure.

The highly anticipated FOMC rate decision tomorrow will be a key catalyst, with markets largely pricing in a rate hike following last week's inflation data. Attention will center on the updated Summary of Economic Projections, the dot plot, and Chair Warsh's press conference for clues on the policy path into year-end.