FxWirePro: AUD/ USD loses momentum but outlook is bullish

• 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