FxWirePro: AUD/USD neutral in the near-term, scope for downward resumption
AUD/USD initially rose in the US session but lost steam as dollar was buoyed by the perception that Hilary Clinton won the second U.S. presidential debate and expectations that Federal Reserve would most likely raise int…
AUD/USD initially rose in the US session but lost steam as dollar was buoyed by the perception that Hilary Clinton won the second U.S. presidential debate and expectations that Federal Reserve would most likely raise interest rates in December.
Investors are looking to Wednesday's release of minutes of the latest Federal Reserve Open Market Committee meeting to find out how close the U.S. central bank was to hiking rates last month.
The pair remains under bears control unless until it trades below 0.7691 resistance level, therefore it is good to sell this pair on rallies.
To the upside, immediate resistance can be seen at 0.7622, a break above this level would take the pair towards next resistance level at 0.7653.
To the downside, immediate support can be seen at 0.7591, a break below this level will open the door towards next level at 0.7551.
