AUD/USD breaks minor resistance at 0.75, targets 0.7455
Updated
AUD/USD slips below 0.75 handle post RBA minutes, broad based commodity sell-off adds pressure.
Gold is down -1.30% slipping below $ 1230, copper down -0.70%, while both crude benchmarks are modestly lower by about -0.50%.
Techs on 4-hourly charts are biased lower, downside could see tests of 0.7455 and then 0.7430 levels.
FOMC decision due tomorrow will remain the key risk event for this week. Markets also focus on US retail sales and PPI data due later in the day.
The pair finds the immediate resistance at 0.7500 (5-DMA), while on the flip side, immediate support is located at 0.7447 (Mar 10th lows).
Good to sell rallies around 0.75, SL: 0.7540, TP: 0.7450/0.7430
Gold is down -1.30% slipping below $ 1230, copper down -0.70%, while both crude benchmarks are modestly lower by about -0.50%.
Techs on 4-hourly charts are biased lower, downside could see tests of 0.7455 and then 0.7430 levels.
FOMC decision due tomorrow will remain the key risk event for this week. Markets also focus on US retail sales and PPI data due later in the day.
The pair finds the immediate resistance at 0.7500 (5-DMA), while on the flip side, immediate support is located at 0.7447 (Mar 10th lows).
Good to sell rallies around 0.75, SL: 0.7540, TP: 0.7450/0.7430
Trade closed: target reached
Targets almost hit, (lows of 0.7439 seen), advise exiting on dips. The pair is holding support above 4-hourly cloud. We see weakness only on breaks below.
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