• AUD/USD was largely flat in subdued trading as markets remained quiet following the U.S. Labor Day holiday ,while investors assessed domestic sentiment data
• The Westpac September consumer sentiment index fell 5.2%, reflecting continued pressure from interest rates and elevated fuel costs on household confidence.
• Attention will turn to RBA officials Sarah Hunter and Andrew Hauser, who are scheduled to speak in Sydney later Tuesday, with their comments likely to provide further clues on the Reserve Bank of Australia’s policy outlook.
• Swaps imply a 68.8% probability that the Reserve Bank of Australia will raise its key cash rate at its upcoming policy meeting later this month, in what could be its fourth hike so far this year..
• Immediate resistance is located at 0.7245(Higher BB), any close above will push the pair towards 0.7279(23.6%fib).
• Support is seen at 0.7169(38.2%fib) and break below could take the pair towards 0.7148 (SMA 20 ).
Recommendation: Good to buy around 0.7210, with stop loss of 0.7160 and target price of 0.7280
