In what was a quiet day of trade for markets yesterday, the AUD slipped against the USD from 0.7262 to briefly touch lows of 0.7236 before rebounding into this mornings open where the local currency is currently buying 0.7247 US cents.
With US Consumer Confidence rising for the month of September recording its highest level in nearly eighteen years and beating expectations of a decline shows that consumers assessment of current conditions are positive which is bolstered by a strong economy and robust job growth in the US. The Consumer Board's index rose to 138.4 this month from 134.7 in August. This data along with investors waiting for the result of the Federal Reserve’s FOMC meeting where an interest rate hike is widely expected kept a lid on the Aussie.
There is no local data due today, however all eyes on the US Federal Reserve tonight.
On the technical side, first line of support is at 0.7230 followed by 0.7200, on the upside, resistance at 0.7280 and 0.7300