AUD/USD marks in new high above 0.7150 on lagging Greenback

• Broader markets are sending the Dollar lower, propping up the Aussie as investors drop the US Dollar.
• US Fed chairs are striking a dovish stance on rate hikes in 2019, forcing down the USD ahead of China data for Thursday.

AUD/USD heads into Thursday’s overnight session clipping 0.7175 after gaining fresh highs on the US Dollar’s tumble thanks to a dovish outing from the US FOMC and statements from key Federal Reserve heads that downplayed future odds of rate hikes.

Multiple Fed heads on Wednesday took stances across the dovish spectrum, but all of them managed to hit one theme in unison: the Fed could take a long pause on rate hikes if economic data begins to decline, taking the wind out of the Greenback’s sails and sending the Dollar index down across the board, sending AUD/USD up into new highs, but bullish action could prove to be short-lived as the Aussie remains fully exposed to potential downside moves on risk sentiment in the Pacific-Asia sector; Chinese key data is due at 01:30 GMT, and a missed reading could easily send the AUD back down once more.

AUD/USD Technical Levels