FxWirePro: AUD/USD outlook weaker on renewed downside pressure
The AUD/USD declined on Thursday after upbeat U.S. factory data and two more Federal Reserve officials pushed towards the case for a rate hike boosting the greenback. Currently, the currency pair is trading at 0.7614 lev…
The AUD/USD declined on Thursday after upbeat U.S. factory data and two more Federal Reserve officials pushed towards the case for a rate hike boosting the greenback.
Currently, the currency pair is trading at 0.7614 levels, it is set to decline towards 0.7580 and 0.7540 levels in the short term.
Short pullback around 0.7640 should be taken as selling opportunities, as Australian dollar is weaker against the US dollar in intraday trading.
To the upside, the strong resistance can be seen at 0.7652, a break above this level would take the pair towards next resistance level at 0.7723.
To the downside immediate support can be seen at 0.7590, a break below this level will open the door towards next level at 0.7552.
