AUD/USD falls to fresh 1-month lows

• AUD/USD extends losses amid broad USD strength
• Fed’s Evans comments help the greenback

The Australian dollar has extended its decline versus the greenback, falling to a fresh 1-month lows during the American session.

AUD/USD has come under renewed pressure on Wednesday, following a short-lived bounce the previous day, and hit its lowest level since Jan 10 at 0.7822 in recent dealings amid broad USD strength. 

The dollar benefitted from expectations of a Fed rate hike after Evans, a dissenter at the December rate hike meeting, said his decision back then was a close call and that if inflation picks up, he would support further rate increases.

AUD/USD levels to watch

In terms of technical levels, next supports are seen at 0.7800 (psychological level/50-day SMA), 0.7778 (100-day SMA) and 0.7746 (200-day SMA). On the flip side, resistances could be found at 0.7909 (Feb 7 & 6 highs),  0.7953 (Feb 5 high) and 0.7977 (21-day SMA).