AUD/USD has traded a 22 pip range since 0500 GMT; 0.7100-0.7122

0.7089 was Asian session low, before Aussie retail sales beat lifted AUD

See: nL2N2WW02N. Goldman sees 50 bps RBA hikes in June/July nL2N2WW0AY

0.7148 was Tuesday's high, after larger than expected RBA hike nL2N2WV05D

Fed rate decision at 1800 GMT; 50 bps hike expected nL2N2WV11U

Ultra-hawkish Fed might depress AUD/USD towards 0.70 (0.7031 = Monday's low)