AUD/USD breaks minor resistance at 0.75, targets 0.7455

FX:AUDUSD   Australian Dollar/U.S. Dollar
297 0 10
a year ago
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
a year ago
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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