AUD/USD pair declined on Wednesday as dollar rose across the board on the expectation that increased U.S government spending could trigger higher inflation. That prospect triggered dollar demand across the board, and rai…
AUD/USD pair declined on Wednesday as dollar rose across the board on the expectation that increased U.S government spending could trigger higher inflation.
That prospect triggered dollar demand across the board, and raised expectations that U.S. interest rates will rise faster than previously anticipated.
Currently, the currency pair is trading around 0.7488 levels, it is set to decline further towards 0.7450 later towards 0.7400 levels in the short term.
To the upside, immediate resistance can be seen at 0.7500, a break above this level would take the pair towards next resistance level at 0.7555.
To the downside, immediate support can be seen at 0.7449, a break below this level will open the door towards next level at 0.7418.
