AUD/USD to stay under pressure pre-FOMC

  • The Aussie Dollar is under pressure after weak Chinese econ data over the weekend
  • AUD sentiment was already negative amid speculations of more hawkish Fed this week + unwinding of carry positions
  • The currency is likely to remain offered ahead of the FOMC on Wednesday, along with other commodity currencies
  • Next support seen at 0.8950, level likely to hold on the first test
  • Selling rallies the preferred strategy with 0.9030 and 0.9055 the key intraday resistance levels

 

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