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• AUD/USD hovered around on 0.6740 Tuesday as investors cautiously awaited for likely interest rate cut from the U.S. Federal Reserve this week.
• Attention will also be on a slew of Australian jobs data set for release later this week, which will help gauge the health of the labor market and its potential implications for domestic monetary policy
• Economists predict an addition of around 30,000 jobs, with the unemployment rate expected to remain steady at 4.2%.
•The pair hit daily high at 0.6754 and was last trading at 0.6742 at (GMT 05:17).
• Immediate resistance is located at 0.6763 (23.6%fib), any close above will push the pair towards 0.6792 (Aug 27th high).
• Support is seen at 0.6694 (50%fib) and break below could take the pair towards 0.6660 (Sep 6th low)
Recommendation: Good to buy around 0.6730, with stop loss of 0.6690 and target price of 0.6820
