On our last AUDUSD analysis on the 23.07 we indicated that the AUDUSD position at the time at the key psychological level of 0.7 would be a short opportunity primarily due to market expectations of further RBA rate cuts. The currency pair has effectively dropped down 0.685 as a result of the unexpectedly hawkish FED which advised that there would be just a 25bps rate cut and gave no signal there will be further cuts in future. Therefore we maintain our short position and will look to take profit as the currency pair reaches 0.67.