- AUD/USD consolidates after Australia’s upbeat GDP data.
- Momentum indicators suggest that the pair remains to be bearish in the short term.
- The region near 0.6350 psychological level emerges as the immediate support.
AUD/USD extends its losses, trading lower around 0.6380 during the Asian session on Wednesday. The pair experiences downward pressure due to the firmer US Dollar (USD) as investors appear to be increasingly accepting the reduced likelihood of an interest rate hike by the US Federal Reserve (Fed) during the upcoming September policy meeting.
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