FxWirePro: AUD/USD drops below 0.7550 as prospect of Dec U.S. rate hike increases, downside bias remains
The pair declined on Tuesday as the pair was weighted down on expectations that Federal Reserve will hike interest rate as early as December. The greenback was also lifted after Democrat Hillary Clinton widened her lead …
The pair declined on Tuesday as the pair was weighted down on expectations that Federal Reserve will hike interest rate as early as December.
The greenback was also lifted after Democrat Hillary Clinton widened her lead in U.S. Presidential election polls over Republican Donald Trump.
Currently, the currency pair is trading around 0.7541 levels, it is set to decline further towards 0.7500 later towards 0.7450 levels in the short term.
To the upside, immediate resistance can be seen at 0.7565, a break above this level would take the pair towards next resistance level at 0.7603.
To the downside, immediate support can be seen at 0.7528, a break below this level will open the door towards next level at 0.7500.
