AUD/USD has rise 0.50% to 0.6905 in early Asia as shorts pare back

Hawkish comments this morning from RBA Governor Lowe encouraged early buying nL4N2Y13NM

E-minis are up 0.40% and also providing some AUD/USD support

Position adjustments ahead of Fed decision today seeing light USD selling

With market pricing in a 75 BP Fed hike, a hawkish surprise is unlikely

AUD/USD resistance at yesterday's 0.6970 high and break ends 5 days of lower highs

A break above 0.6970 targets the 38.2 of the 0.7282/0.6850 move at 0.7015

Support is at the 2022 low hit on May 12 at 0.6829

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