- AUD/USD rejected at session highs at 0.7771, slips lower to 0.7746, down 0.05% on the day.
- Aussie is struggling to maintain bullish momentum amid waning risk appetite and as Aussie data falters.
- Australia inflation expectations fell to 3.6 percent from the previous 3.7 percent.
- Investment Lending for Homes only lifted by 0.5 percent, a decline from the previous 1.1 percent.
- Further market risk appetite is evaporating as Middle East tensions over Syria escalate, weighing on the Antipodeans.
- US Dollar gained momentum across the board after FOMC minutes showed a mild hawkish lean.
- Technical studies are biased higher and bullish divergence on RSI and Stochs keeps scope for upside.
- Fundamental factors are bearish and we see any further gains only on decisive break above 100-DMA at 0.7786.
Call update: Our previous call (https://www.econotimes.com/FxWirePro-AUD-USD-Trade-Idea-1244401) has almost hit TP2.
Recommendation: We recommend exiting at highs.
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