• AUD/USD inched higher on Thursday as demand for commodity related currencies picked up one day after the U.S. Federal Reserve decided to keep interest rates unchanged.
   
• The Fed on Wednesday signaled an increasingly cautious approach to future U.S. rate increases, sparking a rally in commodity related currencies.
   
• Further, down is expected to be limited as the pair finds strong support at 0.7593 which should limit downside and bring rebound back to higher levels. 
   
• To the upside, the strong resistance can be seen at 0.7733, a break above this level would take the pair towards next resistance level at 0.7759
   
• To the downside, immediate support can be seen at 0.7593 a break below this level will open the door towards next level at 0.7553.
  
  
  Resistance Levels
  
  R1: 0.7683 (23.6% Retracement level)  
  
  R2: 0.7733 (Aug 8th high)
  
  R3: 0.7759 (Aug 11th high)
  
  Support Levels
  
  S1: 0.7634 (38.2% Retracement level)
  
  S2: 0.7593 (50% Retracement level)
  
  S3: 0.7553 (23.6% Retracement level)