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 yesterdays relentless
rise on rallying treasury yields, in wake of Feds projections of 3 rate
hikes next year.
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.
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