- Antipodean currencies had slumped overnight after the Fed kept alive expectations that it might still raise interest rates by year-end
- AUD/USD slumped over 1 percent on Wednesday, to hit three-week lows at 0.7080, is down more than 2 cents this week
- The pair opened Thurs 0.7116, traded 0.7092-0.7119 in Asia; and was at 0.7104 at the time of writing
- AUD/USD stays under pressure unable to make any meaningful bounce, bearish trend is firmly in place
- Immediate resistance for AUD/USD on the topside is at 0.72 and further ahead at 0.7227 (10 DMA)
- Support on the downside are located at 0.7067 (Oct 6 lows) and then below at 0.7041 (Oct 5 lows)
Recommendation : Hold AUD/USD short as per our previous call http://www.fxwirepro.com/fxwire/popup.htm?id=721974
The material has been provided by InstaForex Company – www.instaforex.com