FxWirePro: AUD/USD dips below lower range, bearish bias increases

• AUD/USD edged lower in  choppy trading on Thursday following the Federal Reserve's policy decision.

• The Federal Reserve left its benchmark interest rate unchanged, but the decision was accompanied by three dissenting votes in favor of a 25-basis-point rate hike, reflecting continued concerns about persistent inflation.

• Risk sentiment deteriorated after U.S. President Donald Trump pledged to retaliate following a surprise attack by Iranian forces, raising fears of a broader escalation in the Middle East conflict.

• Investors will also monitor remarks from RBA Assistant Governor Sarah Hunter in Sydney on Thursday for further guidance on the central bank's policy outlook.

• On the data front, Australia's building permits climbed 8.9% year-on-year in June, accelerating from a 5.3% increase in the previous month, signaling stronger momentum in the residential construction sector and a continued recovery in housing activity.

•  Immediate resistance is located at 0.6971(SMA20), any close above will push the pair towards 0.6984(50%fib).

•  Support is seen at 0.6917 (38.2%fib) and break below could take the pair towards 0.6899(Lower BB).

 Recommendation: Good to sell  around 0.6960 with stop loss of 0.7000 and target price of 0.6900