Forex Market Update: AUD/USD Forex Tips for gaining profit

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Currently, the AUD/USD pair trades +0.14% at 0.7368, flirting with daily tops just one pip ahead of the last. The Aussie consolidates the Fed-induced downfall and remains capped below the daily pivot, despite a broad based minor-correction seen in the US dollar after yesterday’s relentless rise on rallying treasury yields, in wake of Fed’s projections of 3 rate hikes next year.

 

The pair finds the immediate resistance at 0.7374 (daily pivot) above which gains could be extended to the next hurdle located 0.7400 (round number) and 0.7426 (5-DMA). On the flip side, the immediate support located 0.7349 (daily low). Selling pressure is likely to intensify below the last, dragging the Aussie to 0.7338 (3-week/ post-FOMC low) and below that at 0.7300 (zero figure).

 

Ultimately in Forex Market, AUD/USD is going down. 

 

Our Recommendation:
SELL AUD/USD 0.7435 TARGETS 0.7405 0.7375 STOPLOSS 0.7465

OUR 1ST TARGET HAS HIT IN AUDUSD 0.7405 KINDLY BOOK PROFIT IN IT.

 


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