FxWirePro: AUD/USD neutral in the near-term, scope for downward resumption
AUD/USD declined on Tuesday as dollar was buoyed by the perception that the Federal Reserve would most likely raise interest rates at the next meeting. Investors expect Federal Reserve would raise short-term interest rat…
AUD/USD declined on Tuesday as dollar was buoyed by the perception that the Federal Reserve would most likely raise interest rates at the next meeting.
Investors expect Federal Reserve would raise short-term interest rates by a quarter point to 0.50-0.75 percent at its policy meeting next Tuesday and Wednesday.
The pair remains under bears control unless until it trades below 0.7497 resistance level, therefore it is good to sell this pair on rallies.
To the upside, immediate resistance can be seen at 0.7470, a break above this level would take the pair towards next resistance level at 0.7497.
To the downside, immediate support can be seen at 0.7446, a break below this level will open the door towards next level at 0.7413.
