• AUD/USD edged higher but gains were limited on Thursday as the greenback remained bid driven by expectations of more cautious Federal Reserve rate cuts and increasing bets on a Trump victory .
• Strong U.S. data and less dovish comments from some Federal Reserve officials have lessened the chance of further.
•At GMT 05:59 the pair was trading at 0.6642, up 0.15%, having fallen 0.7% overnight.
• Technical signals show the pair could lose more ground as RSI is down at 40, and 9, 11,21 DMA’s are trending south.
• Immediate resistance is located at 0.6663(5SMA), any close above will push the pair towards 0.6681(38.2%fib).
• Support is seen at 0.6627(23.6%fib) and break below could take the pair towards 0.6600 (Psychological level).
Recommendation: Good to sell around 0.6650, with stop loss of 0.6770 and target price of 0.5960
