FxWirePro: AUD/ USD momentum remains negative , reinforcing the broader bearish market trend

• AUD/USD dipped on Tuesday  as greenback strengthened ahead of interest rate decisions from the Federal Reserve.

• The U.S. central bank is expected to cut rates by 25 basis points, bringing the target range to 4.25% to 4.50%. However, the key focus will be on any indications regarding future rate cuts.

• A survey by Westpac showed that consumer sentiment declined in December, as worries about the economic outlook overshadowed improvements in individuals' personal finances..

• The Westpac-Melbourne Institute index of consumer sentiment dropped 2.0% in December, reversing some of the significant gains made in the previous two months.

• At GMT 05:51, The Australian dollar  was  trading down 0.31% to $0.63575.

•  Immediate resistance is located at 0.6383(Dec 11th high), any close above will push the pair towards 0.6444(38.2%fib).

•  Support is seen at 0.6349(23.6%fib) and break below could take the pair towards 0.6325(Lower BB).

 Recommendation: Good to sell around 0.6360, with stop loss of 0.6430  and target price of 0.6300