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 AUDUSD 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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