FxWirePro: AUD/USD downside momentum gathers pace

• AUD/USD eased on Thursday as markets looked to the Fed’s policy outlook ahead of the annual Jackson Hole meeting.

•Political noise also lingers, with former President Trump expected to criticize the Fed if Powell adopts a hawkish stance.

•Fed Chair Jerome Powell is due to speak on the economic outlook and the central bank's policy framework.

• On the data front, Australia’s August manufacturing PMI rose to 52.9 from 51.3, the fastest growth in nearly three years.

•Australia’s services sector expanded at the fastest pace in 40 months, with the S&P Global Flash Services PMI rising to 55.1 in August from 54.1 in July.

•  At GMT 06:04, the Australian dollar was down  0.14% to 0.6424 against the Greenback

•  Immediate resistance is located at 0.6465(38.2%fib), any close above will push the pair towards 0.6497(38.2%fib)

•  Support is seen at 0.6391 (Lower BB) and break below could take the pair towards 0.6351(50%fib).

 Recommendation: Good to sell around 0.6440 with stop loss of 0.6500 and target price of 0.6350