Previously Federal Reserve (Fed) Chairman Jerome Powell maintained a stance for interest rates would not be raised until the end of 2022, however there were recent reports that Powell along with Fed members began talks to reduce bond purchases.
The situation has prompted a rebound in the value of the US dollar in the Asian session this morning (Thursday) after moving weakly in previous sessions.
The focus will be on U.S. retail sales data to be published in the New York session with expectations of rising readings.
The US dollar managed to strengthen against other major currencies in the market during the Asian session but slowed back at the opening of the European trading session.
On the price chart of the AUD/USD pair, which jumped 100 pips yesterday has reached the latest high level at the resistance zone 0.77400.
But the Asian session saw prices fall around 30 pips from that level despite Australian jobs data reports showing encouraging readings.
The rebound was displayed at the beginning of the European session with the expectation that the resistance zone 0.77400 will be successfully broken by the price to continue to record the latest weekly highs.
The next rise is expected to head up to the resistance zone at 0.78300 which was tested several times in last March trading.
If the price falls again, the price support level is seen in the RBS zone (resistance become support) 0.76500.
The lower decline will lead to the support zone in the price range of 0.75700-0.75300 which has supported the rebound in the decline in early April.
