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FxWirePro:AUD/USD gains some upside momentum but still bearish

• AUD/ USD steadied around   0.6257 on Monday but gains were limited as investors looked ahead to Reserve Bank of Australia’s December policy meeting.

.• The Reserve Bank of Australia is set to release the minutes from its December policy meeting on Tuesday.

• Earlier this month, the RBA kept its policy unchanged but unexpectedly signaled the possibility of a rate cut next year.

• At GMT 05:23, The Australian dollar  was last  trading up 0.10% to $0.6257, recovering from   Friday’s low of $0.6215.

•  Immediate resistance is located at 0.6278(Dec 20th high), any close above will push the pair towards 0.6323(50%fib).

•  Support is seen at 0.6215 (23.6%fib) and break below could take the pair towards 0.6162(Lower BB).

 Recommendation: Good to sell around 0.6300, with stop loss of 0.6360 and target price of 0.6160

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