• AUD/USD extednds retrace from multi-week tops of 0.7504 and now hovers near weekly troughs around 0.73 handle.
   
• The pair hit lows of 0.7333 after Australian consumer sentiment data showed deterioration in May.
   
• The Westpac-Melbourne Institute Consumer Sentiment Index fell 1% to 102.2 in June after rising 8.5% to a two-and-a-half year high of 103.2 in May.
   
• Currently, the pair has recovered from lows and is currently trading at 0.7366 levels.
   
• Falling oil prices and lower Asian equities also add to the poor risk environment and weigh down on the higher-yielding currency AUD.
   
• Focus on US economic releases due later in the NY session ahead of the FOMC verdict, which likely to trigger massive volatility across the board.
   
• Our previous call (http://www.econotimes.com/FxWirePro-AUD-USD-struggles-at-074-handle-bias-lower-220947) has hit TP1.
   
• We recommend booking full profits and exiting at lows, fresh bets only after FOMC verdict.